Lending startup Fibe raises $90 million in fresh funding round, led by TR Capital, others
Fintech startup Fibe on Wednesday said it has raised $90 million in a funding round led by TR Capital, Trifecta Capital and Amara Partners.
Digital lending startup Fibe, formerly known as EarlySalary, founded in 2015 by Akshay Mehrotra and Ashish Goyal.
Fibe facilitates consumer finances like healthcare loans, edtech loans, insurance financing, and school fee financing, among others.
With this latest funding, the startup plans to use the raised capital to enhance its impact lending portfolio by focusing on market outreach and curating tailor-made lending products.
Fibe’s existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round.
The startup has raised more than $200 million to date and competes with other lending firms such as Slice, LoanTap, PaySense, MoneyTap, and IndiaLends.
“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. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India,” Fibe co-founder and CEO Akshay Mehrotra said.
“The fresh funds will be deployed to further strengthen the existing product lines at Fibe. We remain committed to our journey towards sustainable expansion and are committed to meeting the evolving needs of our customers,” Fibe co-founder and CFO Ashish Goyal said
Lending startup Fibe ( formerly known as EarlySalary ) is one of the best tech startups in Pune.
Fibe, which started off as a small-ticket short duration personal loan company in 2015, has now expanded into products that have a tenure of six months to three years. The average ticket size of its loan products is around Rs 65,000. It offers unsecured personal loans and co-branded credit cards, besides healthcare and education financing options.
