- ByStartupStory | February 15, 2024
Freo, the neo-bank, has secured debt financing from SIDBI, marking the financial institution’s first foray into the fintech sector. The amount of the investment remains undisclosed as Freo positions itself for rapid expansion within India’s thriving fintech landscape.
Anuj Kacker, Co-founder of Freo, expressed enthusiasm about the partnership with SIDBI, stating, “We’re extremely excited to initiate this partnership with SIDBI, marking a pivotal moment in Freo’s evolution.
This collaboration isn’t just a significant achievement for us; it symbolizes the beginning of what we anticipate will be a long and fruitful relationship.”
SIDBI, known for its investments across various sectors including mobility, startups, and Micro, Small, and Medium Enterprises (MSMEs), manages several Fund of Funds (FoF) programmes on behalf of the Indian government and state governments. These programmes aim to bolster startups and MSMEs by investing in SEBI-registered Venture Funds and Alternative Investment Funds.
Follow Startup Story
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
