IndiaLends was founded in 2015 by Gaurav Chopra and Mayank Kacchwaa as a digital credit marketplace.

Digital banking platform Freo has acquired a 100% stake in credit marketplace IndiaLends, which will continue to operate as a separate entity under the digital banking platform, The Economic Times reported. However, the acquisition amount was not disclosed. IndiaLends was founded in 2015 by Gaurav Chopra and Mayank Kacchwaa as a digital credit marketplace. The platform helps individuals access personal loans, credit cards, and credit-building tools tailored to their financial profiles. The platforms that win the next decade will combine the right licences, the right distribution, profitable discipline, and AI embedded across the stack. With IndiaLends, Freo now has all four at scale.” “We have already been doing business for the last 2–3 years because we are also listed on their platform as a lending partner. Of course, there will be synergies because we are targeting the same customer segment,” ET reported, citing Freo cofounder Anuj Kacker. Financial Positions IndiaLends catered to more than 2.5 crore users and had raised $5.1 million in its Series A funding round from ACP Partners and DSG Consumer Partners in 2021. Following the acquisition, Freo will be able to provide services to over 50 million users, according to a company statement. Over the years, Freo’s revenue has steadily grown to ₹116.8 crore in FY25 from ₹78.6 crore in FY21, according to the ET report citing Tracxn data. The company also reduced its losses to ₹8.8 crore from ₹38.8 crore during the same period.

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