Freo Acquires IndiaLends, Gains 100% Ownership

Freo announced it will acquire 100% of IndiaLends, pending regulatory approvals, to expand its digital financial platform.
The combined entity aims to serve over 50 million users and target 500 million middle‑income consumers across payments, credit, insurance, and investments.
Freo brings UPI TPAP, NBFC and insurance licences; IndiaLends adds a marketplace with integrations to 80+ banks and NBFCs.
Firms backed by investors like Peak XV Partners, Prime Venture Partners, ACP Partners and American Express Ventures, and plan a capital raise.