India, Feb. 26 -- Fintech startup FREED has raised Rs.60 Cr (about $6.6 Mn) in a funding round led by Aavishkaar Capital, with participation from existing investors Sorin Investments, Piper Serica and Sattva Ventures.

The startup said that the fresh funds will be deployed to scale operations, expand geographic reach, strengthen product and underwriting capabilities, and deepen partnerships.

Founded in 2020 by Ritesh Srivastava, FREED is a borrower-centric debt relief platform that leverages technology to provide solutions to individuals to get free of debt. It offers three plans - Debt Resolution Programme, Debt Consolidation Programme, and FREED Shield.

Under the Debt Resolution Programme, the startup negotiates with creditors to help...