Private Equity Liquidity Events
Digital banking startup Freo acquires credit marketplace IndiaLends
Source Business Standard (opens in a new tab)Linkedin Announcement (opens in a new tab)
Consumer financial platform Freo has acquired 100% ownership of digital marketplace IndiaLends .IndiaLends, founded by Gaurav Chopra, operates a digital marketplace for loans and credit cards, supported by integrations with over 80 banks and non-banking financial companies (NBFCs). The acquisition aims to integrate IndiaLends’ marketplace capabilities and distribution network with Freo’s existing financial products and regulatory licenses to accelerate growth and product execution.Following the acquisition, the combined entity will serve over 50 million users across the Indian market.
Company website ↗ (opens in a new tab)
Between Jul 2015 and Mar 2021, IndiaLends had attracted about USD 24 M from ACPI Investment Managers, DSG Consumer Partners, AdvantEdge Partners, Amex Ventures, Cyber Carrier, and others.For FY25, IndiaLends had reported about INR 49 Cr in Operating Income and about INR 15 Cr in Net loss.