About FREED
FREED is a company based in Gurugram (India) founded in 2020 by Alok Sharma and Ritesh Srivastava. It operates as a Commission-Based, and Brokerage / Intermediation. FREED has raised $10.3 million across 2 funding rounds from investors including Rohan Builders, Lead Angels and CIGS Tech Innovations. The company has 132 employees as of April 06, 2024. FREED offers products and services including Debt Resolution Program and Debt Consolidation Program. FREED operates in a competitive market with competitors including Resuelve tu Deuda, Beyond Finance, Ophelos, Kredit and Relief, among others.
- Headquarter Gurugram, India
- Employees 132 as on 06 Apr, 2024
- Founders Alok Sharma, Ritesh Srivastava
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Kavach Financial Services Private Limited
- Date of Incorporation 27 May, 2020
- Jurisdiction Gurgaon, Haryana, India
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Annual Revenue
$415.71 K (USD)-0.92as on Mar 31, 2023
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Net Profit
$-1.34 M (USD)-333.72as on Mar 31, 2023
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EBITDA
$-1.74 M (USD)-348.17as on Mar 31, 2023
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Total Equity Funding
$10.3 M (USD)
in 2 rounds
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Latest Funding Round
$7.5 M (USD), Series A
Mar 13, 2024
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Investors
Rohan Builders
& 69 more
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Employee Count
132
as on Apr 06, 2024
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Products & Services of FREED
FREED offers a comprehensive portfolio of products and services, including Debt Resolution Program and Debt Consolidation Program. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Debt resolution is offered for unsecured debt settlement.
Debt consolidation is provided for multiple loan management.
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Funding Insights of FREED
FREED has successfully raised a total of $10.3M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $7.5 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $7.5M
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First Round
First Round
(07 Apr 2022)
- Investors Count 70
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series A - FREED | Valuation | Sorin , Nabs Vriddhii | |
| Apr, 2022 | Amount | Seed - FREED | Valuation | Inflection Point Ventures , Firstport Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in FREED
FREED has secured backing from 70 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Rohan Builders, Lead Angels and CIGS Tech Innovations. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment firm offering funding solutions to early stage tech companies
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Founded Year | Domain | Location | |
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Potato farming, grain marketing, and equipment services are conducted in Maine.
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Private equity fund investing in multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FREED
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - FREED
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Freed Comparisons
Competitors of FREED
FREED operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Resuelve tu Deuda, Beyond Finance, Ophelos, Kredit and Relief, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
App-based platform for consumer debt settlement
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| domain | founded_year | HQ Location |
Debt settlement services are provided for unsecured consumer debts.
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| domain | founded_year | HQ Location |
An online platform is developed for consumer debt repayment options.
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| domain | founded_year | HQ Location |
Credit card debts are settled through specialized software solutions.
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| domain | founded_year | HQ Location |
Relief is focused on helping users reduce personal debt.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Freed
Frequently Asked Questions about FREED
When was FREED founded?
FREED was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Where is FREED located?
FREED is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of FREED?
Ritesh Srivastava is the current CEO of FREED. They have also founded this company.
Is FREED a funded company?
FREED is a funded company, having raised a total of $10.3M across 2 funding rounds to date. The company's 1st funding round was a Seed of $2.8M, raised on Apr 07, 2022.
How many employees does FREED have?
As of Apr 06, 2024, the latest employee count at FREED is 132.
What is the annual revenue of FREED?
Annual revenue of FREED is $415.71K as on Mar 31, 2023.
What does FREED do?
FREED is engaged in offering debt relief and loan settlement solutions in India. Services are provided for individuals facing financial hardships due to overwhelming debt. Debt resolution and consolidation programs are designed to help clients manage unsecured debts such as personal loans and credit card debts. The company operates in the financial services sector, focusing on negotiating with creditors to reduce debt burdens. Customized programs are tailored based on clients financial profiles and goals. A path to financial freedom is facilitated through structured savings and settlement processes.
Who are the top competitors of FREED?
FREED's top competitors include Resuelve tu Deuda, Beyond Finance and Relief.
What products or services does FREED offer?
FREED offers Debt Resolution Program and Debt Consolidation Program.
Who are FREED's investors?
FREED has 70 investors. Key investors include Rohan Builders, Lead Angels, CIGS Tech Innovations, Multiply Ventures, and Beacon Trusteeship.
What is FREED's valuation?
The valuation of FREED is $5.74M as of Apr 2022.
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