Who owns Freo?
short answerFreo is not itself a bank. It runs on a partner-bank (BaaS) model and works with Equitas Small Finance Bank — the licensed bank that actually holds customer deposits behind the app.
Is Freo a licensed bank?
No — a partner bank (Equitas Small Finance Bank) holds the money. Licence detail: In-house RBI-licensed NBFC; savings and accounts via partner banks (Equitas, Yes Bank).
Where is your money held?
Custody model: Custodial.
Freo runs on: Equitas Small Finance Bank (BIN sponsor bank). Full stack on the infra map.
Is my money safe with Freo?
Your money is held by Equitas Small Finance Bank, so any deposit insurance flows through that sponsor bank — not Freo itself. Check the sponsor's scheme and whether balances are "passed through" for per-customer insurance.
go deeperSee the full Freo profile with every verified field, or Freo alternatives. Raw fields: data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.