Becoming fiscally free is essential in an era where financial burdens can feel overwhelming. Freed emerges as a knight in shining armour. It is India’s comprehensive debt relief platform. As per the studies conducted, the percentage of savings in Indian households is rapidly falling due to rising financial liabilities. Freed is one of the few companies that aims to alleviate debt-related stress and liberate individuals from the shackles of debt.
Founding Story
Freed was born out of a recognition of the widespread issue of debt plaguing families worldwide. To empower the debt-burdened individuals, Ritesh Srivastava founded Freed in August 2020. He has over 50 years of experience in the US debt Relief Industry. Due to this, he was able to decipher the pain points of people drowning neck-deep in debt. Since then, he made it his mission to leverage this rich experience and help the Indians reclaim their financial freedom. As the global pandemic hit the world, it further accelerated him to develop a comprehensive debt relief solution.
Founder
Ritesh is a passionate, empathetic and dedicated leader who brings a wealth of experience and expertise to the table. His leadership, coupled with a deep understanding of the challenges associated with debt relief, has propelled Freed to the forefront of the industry. He has a strong background in scaling luxury e-commerce ventures. He redirected his entrepreneurial spirit towards the cause of helping people attain financial freedom.
Funding
The platform’s journey towards realising its vision received a significant boost with a recent infusion of Rs 60 crore ($7.5 million) in Series A funding. Sorin Investments and Multiply Ventures led this substantial funding. Piper Serica and other institutional funds also backed Freed’s innovative approach. Further, the infusion tails a successful pre-Series A round in May 2022. Here, the company successfully secured $2.8 million. The investment validates the potential of the innovative approach and provides the necessary resources to further enhance its platform and reach a wider audience.
Future
The firm envisions a future to stand tall as the most trusted and result-driven Debt Relief Company. Through ongoing innovation and strategic partnerships, it aims to expand its plethora of services and reach underserved communities. With over 25000 customers across India and more than 1,200 cross-in-stressed retail debt enrolled on the platform, Freed remains relentless in its commitment to delivering tailored solutions that empower users to overcome financial.
USPs (Unique Selling Propositions)
- Cutting Edge Technology – Freed optimally utilizes advanced algorithms to navigate through users’ financial data and recommend the best way possible ahead.
- Transparency & Affordability – The platform ensures that users feel supported through their journey of regaining a debt-free life.
- Educating – Users benefit from the educational resources readily available to help them make financially informed decisions.
In conclusion, Freed offers a transformative solution that empowers users to break free from the chains of debt and carve a way for financial independence.
