Acquisition · Financial Services

Freo acquires IndiaLends in all-stock deal

What they do

Freo is a digital banking platform offering credit lines, cards, savings, and insurance

It acquired 100% of IndiaLends, a digital loan marketplace, for an undisclosed sum

The combined platform will serve over 50 million users and plans a large capital raise

Freo has acquired a 100% stake in IndiaLends, a digital marketplace for loans and credit cards.
The deal is subject to regulatory approvals.
Both brands will operate independently after the acquisition.
The combined platform will serve over 5 crore (50 million) users.
The focus will be on AI-driven products, underwriting, customer analytics, and integrated offerings.
The combined entity plans a large capital raise for its next growth phase.

Freo aims to expand its user base and product range by adding IndiaLends' loan marketplace.
IndiaLends brings partnerships with over 85 banks and NBFCs (non-banking financial companies).
The acquisition helps Freo offer personal loans, gold loans, and credit cards through IndiaLends.

Freo started as MoneyTap in 2015 and rebranded to Freo in 2021 as a digital banking platform.
It offers credit lines, credit cards, credit-on-UPI via RuPay, savings solutions, payments, insurance, and investments.
Freo holds licences as a TPAP (Third Party Application Provider) for UPI, an NBFC (non-banking financial company), and an insurance corporate agent.
IndiaLends is a digital marketplace connecting users with loans and credit cards from over 85 banks and NBFCs.
IndiaLends products include personal loans, line of credit, credit cards, and gold loans.
IndiaLends claims to have served over 2.5 crore users through its app.