About Freo
Freo is a company based in Bengaluru (India) founded in 2015 by Kunal Varma, Anuj Kacker, and Bala Parthasarathy. Freo has raised $46.31 million across 6 funding rounds from investors including Money Forward, SIDBI and Peak XV Partners. The company has 162 employees as of March 28, 2024. Freo has completed 1 acquisition, including IndiaLends. Freo offers products and services including UPI Service, Insurance Plans, Investment Tools, and Loan Services. Freo operates in a competitive market with competitors including Niyo, Avail Finance, RapiPay and OneBanc Technologies, among others.
- Headquarter Bengaluru, India
- Employees 162 as on 28 Mar, 2024
- Founders Kunal Varma, Anuj Kacker, Bala Parthasarathy
- Stage Minicorn
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Sectors
Financial Services
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Mwyn Tech Private Limited
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$12 M (USD)5.91as on Mar 31, 2023
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Net Profit
-$4.8 M (USD)23.6as on Mar 31, 2023
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EBITDA
-$5.11 M (USD)15.91as on Mar 31, 2023
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Total Equity Funding
$46.31 M (USD)
in 6 rounds
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Latest Funding Round
Not available
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Investors
Money Forward
& 23 more
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Employee Count
162
as on Mar 28, 2024
- Investments & Acquisitions
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Products & Services of Freo
Freo offers a comprehensive portfolio of products and services, including UPI Service, Insurance Plans, Investment Tools, and Loan Services.
Enables instant UPI payments and transfers via mobile app.
Offers affordable coverage for health and daily risks.
Facilitates investments in fixed deposits and digital gold.
Provides instant loans up to ₹5 lakhs with flexible repayment.
People of Freo
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Funding Insights of Freo
Freo has successfully raised a total of $46.31M across 6 strategic funding rounds. 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.
Investors in Freo
Freo has secured backing from 24 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Money Forward, SIDBI and Peak XV Partners.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on early-stage technology companies
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ADQ is recognized as a leading sovereign investor focused on sustainable economic transformation in Abu Dhabi.
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Private equity and debt investments are directed toward financial sectors.
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Investor details for Freo
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Investments & Acquisitions by Freo
Freo has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include IndiaLends.
Investment portfolio details for Freo
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
- Round details
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Verified entity values are shown only after access is granted.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Online platform providing loans and credit cards from various financial institutions
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Locked | Locked | 2014 | Locked |
Complete acquisition details for Freo
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Financial Statements - Freo
Detailed financials for Freo
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Freo Comparisons
Peer comparison for Freo
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Competitors of Freo
Freo 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 Niyo, Avail Finance, RapiPay and OneBanc Technologies, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
Online platform for wealth management
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Neobank for individuals
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Agent-based payment solutions for businesses are provided.
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AI-powered online banking solutions are integrated with HR workflows.
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Detailed competitors of Freo
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Latest news on Freo
Complete news archive for Freo
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Frequently Asked Questions about Freo
Freo was founded in 2015.
Freo is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Kunal Varma is the current CEO of Freo. They have also founded this company.
Freo is a funded company, having raised a total of $46.31M across 6 funding rounds to date.
As of Mar 28, 2024, the latest employee count at Freo is 162.
Annual revenue of Freo is $12M as on Mar 31, 2023.
Freo, a neobank focused on individuals, was founded in 2015 and is headquartered in Bengaluru, India. Savings accounts are provided through FreoSave, while personal credit lines are available via Moneytap. Purchase financing is facilitated by FreoPay, alongside virtual and physical prepaid cards for bill payments and money transfers. The mobile app is accessible on Android and iOS platforms.
Freo's top competitors include Niyo, OneBanc Technologies and Avail Finance.
Freo offers UPI Service, Insurance Plans, Investment Tools, and Loan Services.
Freo has made 1 acquisition, including IndiaLends.
Freo has 24 investors. Key investors include Money Forward, SIDBI, Peak XV Partners, Aquiline Capital Partners, and RTP Global.
The valuation of Freo is $103.47M as of Jan 2024.