Digital banking platform Freo plans to join the growing number of Indian internet firms wanting to return to their home country as local markets start to give greater valuations for new economy scripts.
The business has started internal talks on returning to India from Singapore as its permanent home because of the nation’s improving financial situation. In Singapore, it is registered as Mycash Fintech.
The announcement comes months after the firm stated that it had a “positive contribution margin” and that its gross sales had surpassed INR 350 Cr in the fiscal year 2023–24 (FY24). It stated at the time that during the previous five years, its revenues had increased fivefold.
Read More – BlueStone FY24: Revenue Surpasses INR 1,000 Cr Mark, Loss Narrows 15% To INR 142.2 Cr
