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Debt relief startup Freed raises $7.5M led by Sorin Investments, others

IndianStartupNews

IndianStartupNews · 1y ago

Debt relief startup Freed raises $7.5M led by Sorin Investments, others

Gurugram-based startup Freed recently raised $7.5 million in funding to expand its debt relief services. The funding round was led by Sorin Investments and included participation from Multiply Ventures and Piper Serica Fund. Freed offers innovative solutions to help individuals manage their finances effectively and relieve the stress of debt collection. Since its founding in August 2020, the startup has assisted over 25,000 customers with over Rs 1,200 crore in stressed retail debt. The recent funding will support Freed's growth and enhance its technological capabilities in the debt relief landscape.

Related News

Debt relief platform FREED raises $7.5 Mn in Series A

Entrackr

Entrackr · 1y ago

Debt relief platform FREED raises $7.5 Mn in Series A

Debt relief platform FREED has raised Rs 60 crore ($7.5 million) in its Series A round led by Sorin Investments and Multiply Ventures, with participation from Piper Serica and other institutional funds. In May 2022, FREED raised $2.8 million in a pre-Series A round led by Inflection Point Ventures. With this latest investment, FREED aims to accelerate its growth trajectory, deepen its impact, and continue pioneering advancements in the debt relief landscape. Founded in August 2020 by Ritesh Srivastava, FREED assists individuals in navigating their debt challenges effectively. The company claims to have enrolled over 1,200 crore in stressed retail debt on its platform across more than 25,000 customers pan India. Besides FREED, Loan Settlement, Single Debt, and CreditQ, among others also compete in this segment. Sorin Investments, a venture capital firm set up by KKR’s Sanjay Nayar and Caravel Group’s Angad Banga, raised $100 million from multiple family offices for its debut fund in July 2022. Its portfolio includes Uniqus and Venwiz.

Debt relief platform Freed raises $7.5 million led by Sorin Investments

Economic Times

Economic Times · 1y ago

Debt relief platform Freed raises $7.5 million led by Sorin Investments

Gurugram-based debt relief startup Freed has secured $7.5 million in funding in a round led by Sorin Investments and Multiply Ventures. The platform helps consumers manage their finances and repay debts, offering relief to individuals who are over-leveraged and facing collection stress from lenders. The investment will support the company's goal of expanding its reach and enhancing its technology. Since its founding in 2020, Freed has enrolled over Rs 1,200 crore in stressed retail debt, serving more than 25,000 customers in India.

Debt relief platform Freed raises $7.5 million in funding round led by Sorin Investments

Economic Times

Economic Times · 1y ago

Debt relief platform Freed raises $7.5 million in funding round led by Sorin Investments

Gurugram-based debt relief startup Freed has secured $7.5 million in a funding round led by Sorin Investments and Multiply Ventures. The company, which helps consumers manage and repay their debts, plans to use the investment to expand its reach and enhance its technology. Freed aims to alleviate the burden of debt for individuals in India who may be over-leveraged and facing collection stress from lenders. The startup, founded in 2020, has already enrolled over INR 1,200 crore in stressed retail debt across more than 25,000 customers.

Former KKR India chief Nayar’s VC firm leads FREED’s Series A round

VCCircle

VCCircle · 1y ago

Former KKR India chief Nayar’s VC firm leads FREED’s Series A round

Debt relief platform, FREED, has secured INR 60 crore in a Series A funding round led by Sorin Investments, the VC firm founded by former KKR India chief Sanjay Nayar. The funding will be used to help individuals burdened with debt regain their financial freedom. FREED, which claims to provide accessible and ethical debt relief solutions, has already enrolled over INR 1,200 crore in stressed retail debt on its platform from more than 25,000 customers across India.

Fintech Startup FREED Raises

Inc42 · 1y ago

Fintech Startup FREED Raises

Indian fintech startup FREED has raised INR 60 crore ($7.5 million) in a Series A funding round led by Sorin Investments and Multiply Ventures. The funds will be used to expand the company's reach and improve its technology. FREED, founded in 2020 by Ritesh Srivastava, offers debt solutions to individuals through its Debt Resolution Programme and Debt Consolidation Programme. The startup claims to have enrolled over INR 1,200 crore in retail debt on its platform from more than 25,000 customers across India.

Beacon.li raises $7 Mn in Series A round

Entrackr

Entrackr · 5m ago

Beacon.li raises $7 Mn in Series A round

Enterprise tech startup Beacon.li has raised $7 million in its Series A round led by Sorin Investments, with participation from Athera Venture Partners, JAFCO Asia, Unicorn India Ventures, and angel investors including Capillary Technologies founder Aneesh Reddy, Rapido co-founder Aravind Sanka, and Kapil Bharti. The proceeds will be used to expand AI capabilities, increase global presence, and boost enterprise automation. Founded in 2023 by Silus Reddy and Rakesh Vaddadi, Beacon.li offers AI-driven product assistants for enterprise software support, integrating with systems to automate processes and answer queries. Customers include Darwinbox, Zluri, Keka HR, and Planful. Co-founded by former KKR India head Sanjay Nayar, Sorin Investments closed its maiden fund at Rs 1,350 crore in May last year.

Enterprise solutions startup Beacon raises $7 million in round led by Sorin Investments

Economic Times

Economic Times · 5m ago

Enterprise solutions startup Beacon raises $7 million in round led by Sorin Investments

Beacon.li, an AI-powered enterprise solutions startup, raised $7 million in a Series A round led by Sorin Investments. The funding will help expand AI capabilities, scale globally, and enhance automation. Founded in 2023, Beacon.li streamlines enterprise software with AI automation, serving clients in India and the US. Investors include Athera Venture Partners and Jafco Asia. Beacon.li's AI reduces support volume by 80% and boosts user adoption fourfold, addressing critical enterprise efficiency needs.

EngineEars Raises $7.5M in Seed Funding

Finsmes · 1y ago

EngineEars Raises $7.5M in Seed Funding

Los Angeles-based music tech startup EngineEars has secured $7.5 million in seed funding. The round was led by Drive Capital, with participation from Slauson & Co., 645 Ventures, FLUS Investment Group, and various music industry professionals including Kendrick Lamar and DJ Khaled. EngineEars specializes in software solutions for streamlining music collaboration and management processes for artists, engineers, and record labels. The funding will be used to expand the company's operations and further develop its platform capabilities.

Roofer.com Raises $7.5M in Seed Funding

Finsmes · 1y ago

Roofer.com Raises $7.5M in Seed Funding

Dallas-based technology company Roofer.com has secured $7.5 million in a seed funding round led by Mucker Capital. The company plans to expand into a second market in Austin, Texas and utilizes AI algorithms and drone technology to conduct roof scans. The funds will be used to streamline systems, hire core team members, and enter new markets in 2024.

IsomAb Raises £7.5M in Funding

Finsmes · 1y ago

IsomAb Raises £7.5M in Funding

UK biopharmaceutical company IsomAb has secured £7.5 million in funding led by Broadview Ventures, with participation from MEIF Proof of Concept & Early Stage Fund, Mercia's EIS funds, and existing investor SCVC. The Nottingham-based firm plans to use the funds to conduct further studies in preparation for clinical trials. IsomAb focuses on developing isoform-specific antibodies to treat peripheral arterial disease, a condition where the arteries in the legs and feet become blocked, leading to reduced blood flow. The company's lead program targets VEGF-A165b to address peripheral arterial disease in patients with metabolic syndrome and Type II diabetes.

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