Indian fintech Fibe bags $90m in Series E funding round
Fibe, the Indian digital lending platform formerly known as EarlySalary, has secured $90 million in a Series E funding round co-led by new investors Amara Partners, TR Capital, and Trifecta Capital.
Fibe lands $90 million Series E funding
In addition, the investment round was supported by several of Fibe’s existing backers, including Chiratae Ventures, TPG Rise Fund, Norwest Venture Partners, and Eight Roads Ventures.
Founded in 2015, Fibe has expanded beyond its core personal loan offering over the years to introduce a variety of financing solutions for the insurance, healthcare, and education sectors.
Fibe now claims to have disbursed more than six million loans since its inception.
The company also recently introduced “India’s first numberless co-branded credit card” in partnership with Axis Bank – the Fibe Axis Bank Credit Card – to expand its credit solutions further.
The fintech plans to use the new funds to fuel its market outreach, develop more lending products, enhance its technological infrastructure, and “deepen our impact across India”, according to co-founder and CEO Akshay Mehrotra.
The new cash adds to the $110 million raised by the Pune-based firm in its Series D funding round in 2022.
