Fibe raises $90 million in Series E funding

Fibe, one of India’s leading fintech startups has raised $90 million in their Series E round led by TR Capital, Amara Partners and Trifecta Capital. Existing investors TPG Rise Fund, Norwest Venture Partners, Chiratae Ventures and our India Ventures team also participated in the round.

The funds will be used to further expand business, strengthen existing product lines and to diversify its impact loans portfolio with more tailor-made products. Over the years, Fibe has expanded its presence from 18 to 350 cities. It has disbursed more than 6 million loans worth ₹20,000 crores+ since inception.

Akshay Mehrotra, Co-founder & CEO, Fibe said, “The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India's youth on their journey towards fulfilling their dreams. At Fibe, we believe in fostering a culture of responsible lending and borrowing, thereby ensuring that every opportunity we provide aligns with our borrowers' aspirations and financial well-being. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India. Together, we continue to pave the way for a future where every individual has the tools and support they need to thrive financially.”

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe (formerly EarlySalary), is a leader in the consumer lending segment with its personal loan and impact loan portfolio including categories like healthcare loans, edtech loans, insurance financing, school fee financing, and more.  With a core focus on lending technology and risk management systems, Fibe has been able to offer lower credit costs to consumers. The brand also recently launched India’s first numberless co-branded credit card.

Read the full press coverage here.