Fintech startup Freo has acquired IndiaLends, a digital lending marketplace, in a move aimed at strengthening its position in India’s fast evolving credit ecosystem. The deal gives Freo full ownership of IndiaLends, although financial terms were not disclosed.
The acquisition combines Freo’s financial products and regulatory licences with IndiaLends’ lending marketplace and distribution network, creating a more integrated fintech platform. Following the merger, the combined entity is expected to serve over 50 million users.
Founded by IIT-ISB alumni, Freo offers a suite of services spanning payments, credit, insurance, and investments, and operates with multiple regulatory approvals, including a TPAP licence for UPI, an NBFC licence, and an insurance corporate agent licence.
IndiaLends, founded by Gaurav Chopra, runs a loan and credit card marketplace with integrations across more than 80 banks, NBFCs, and financial institutions. The platform has previously raised funding from investors such as ACP Partners and DSG Consumer Partners.
The combined entity plans to focus on AI-led workflows, customer analytics, underwriting, and integrated financial products, aiming to improve efficiency and enhance user experience. The integration is expected to strengthen operating metrics and product execution in the near term.
Freo also indicated that it is planning a large capital raise to support its next phase of growth, signalling ambitions to scale further in the competitive fintech landscape.
The acquisition comes as fintech companies increasingly pursue consolidation strategies to build full-stack platforms and improve control over distribution, underwriting, and customer engagement.
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