Freo acquires IndiaLends to expand digital lending platform

By Parth Prabhudesai

Freo has acquired IndiaLends, taking full ownership of the platform in a move that expands its presence in India’s digital financial services market.

The acquisition brings together Freo’s portfolio of financial products and regulatory licences with IndiaLends’ lending marketplace and distribution network. The combined entity will serve more than 50 million users, strengthening its reach across payments, credit, insurance, and investment services.

Freo operates with multiple regulatory approvals, including a TPAP licence for UPI services, an NBFC licence, and an insurance corporate agent licence. The addition of IndiaLends is expected to deepen its capabilities in digital lending, embedded finance, and consumer credit.

Founded by Gaurav Chopra, IndiaLends provides a marketplace for loans and credit cards, with integrations across more than 80 banks, NBFCs, and financial institutions. The platform allows users to access multiple financial products through a single interface, supporting broader financial inclusion and digital access.

Following the acquisition, the merged entity plans to focus on AI-led workflows, customer analytics, underwriting technologies, and integrated financial offerings. The companies said the combination is expected to improve operational efficiency, enhance product execution, and strengthen customer acquisition.

Freo also indicated that it is preparing for a large capital raise to support its next phase of growth. The funding is expected to accelerate investments in artificial intelligence, digital lending infrastructure, and customer-centric financial solutions.

The deal marks a notable consolidation in India’s fintech sector, where firms are increasingly combining capabilities to scale faster and compete in a crowded market. By integrating technology, regulatory strength, and distribution, the merged platform aims to build a more comprehensive and scalable digital finance ecosystem.