back Back

Fibe raises $90m in Series E round led by TR Capital, Trifecta Capital & Amara Partners

By Gloria Mathias

June 06, 2024

  • Axis Bank
  • consumer lending
  • Consumer Technology
Share

Fibe, udChalo, Indian personnel Loans, India FinTech, Consumer lending, Consumer Technology, Axis Bank, Numberless Credit Card, Genz, India Credit Card, Credit Card on UPI, Credit card India, EarlySalary, Finance News, Fintech News, NCD funding, BSE, Bombay Stock Exchange, TR Capital, Trifecta Capital and Amara Partners, Fintech funding, Funding IndiaFibe, an India-based FinTech, has raised $90 million in a Series E round led by TR Capital, Trifecta Capital and Amara Partners.

Its existing investors, TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures, also participated in the round, which included both primary and secondary transactions.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe (then EarlySalary), the company is expanding 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 hyper-focus on lending technology and risk management systems, Fibe has been able to offer lower credit costs to consumers. The brand also recently launched a numberless co-branded credit card.

Fibe is playing a pivotal role in fulfilling the aspirations of young India. The company aims to make rapid strides in its impact lending segment and will, therefore, deploy the new fund for business expansion, market outreach, and curating more tailor-made products across its impact lending portfolio.

Akshay Mehrotra, Co-founder & CEO of 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.”

Ashish Goyal, Co-founder & CFO of Fibe, shared, “Over the last few years, we have launched multiple financing solutions for healthcare, insurance and education besides our core personal loan offering to provide affordability to customers. The fresh funds will be deployed to strengthen the existing product lines at Fibe further. We remain committed to our journey towards sustainable expansion and are committed to meeting the evolving needs of our customers.”

 

Previous Article

June 06, 2024

Monex USA integrates with Payments Exchange from Fiserv

Read More
Next Article

June 06, 2024

Plain Numbers and Visa partner to enhance inclusivity in the UK

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Axis Bank

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Natwest snaps up Sainsbury’s banking business in £2.5b deal

Read More

Today

DZ Bank taps Surecomp for Collaborative Trade Finance Platform

Read More

June 19, 2024

Dineo Crédito taps Mambu to bolster lending capabilities in Spain

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023