Ferric reductase responsible for reducing extracellular iron and copper prior to import. Catalyzes the reductive uptake of Fe(3+)-salts and Fe(3+) bound to catecholate or hydroxamate siderophores. Fe(3+) is reduced to Fe(2+), which then dissociates from the siderophore and can be imported by the high-affinity Fe(2+) transport complex in the plasma membrane. Also participates in Cu(2+) reduction and Cu(+) uptake (By similarity). Involved in maintenance of cell wall integrity (CWI), mitochondrial function, and interaction between the pathogen and the host. 2 a Fe(II)-siderophore + H(+) + NADP(+) = 2 a Fe(III)-siderophore + NADPH Transcription is negatively regulated by SFU1, copper, amphotericin B, and caspofungin; and induced by ciclopirox olamine. Leads to abnormal cell wall composition, decreased ability of adhesion, and hypersensitivity to cell wall stresses. Increases mitochondrial activity and shows abnormal mitochondrial morphology. Results also in up-regulation of the expression of the cell wall integrity (CWI) genes PGA13 and CRH11, enhanded secretion, and decreased ability to invade HeLa cells. Belongs to the ferric reductase (FRE) family.