IndiaLends, a digital lending marketplace, will be fully acquired by fintech startup Freo.
Through the acquisition, IndiaLends’ lending marketplace and distribution network will be combined with Freo’s financial products and regulatory licenses.
More than 50 million users will be served by Freo’s ecosystem after the deal.
Freo, which was founded by IIT-ISB alumni, provides products in the areas of investments, credit, insurance, and payments. The business operates under a number of licenses, including an insurance corporate agent license, an NBFC licence, and a TPAP licence for UPI.
Gaurav Chopra founded IndiaLends, a digital marketplace for credit cards and loans with integrations with more than 80 banks, NBFCs, and other financial institutions. The company raised $5.1 million in a financing round led by current investors ACP Partners and DSG Consumer Partners.
As it expands operations, the combined company intends to concentrate on AI-led workflows, customer analytics, underwriting, and integrated product offerings.
Over the upcoming months, it is anticipated that the integration will strengthen product execution and enhance operating metrics.
According to Freo, the combined company intends to raise a sizable sum of money to finance its next stage of expansion.
Freo had previously raised an undisclosed sum from SIDBI in a debt round back in February 2024.
