Formerly known as EarlySalary, Fibe is an Indian digital lending platform. It has raised $90 million in a Series E fundraising round headed by new investors Amara Partners, TR Capital, and Trifecta Capital.
Furthermore, a number of Fibe’s current sponsors, including Chiratae Ventures, TPG Rise Fund, Norwest Venture Partners, and Eight Roads Ventures, supported the funding round.
Since its founding in 2015, they has introduced a range of financing options for the insurance, healthcare, and education sectors in addition to its primary personal loan offering.
Since its founding, Fibe claims to have disbursed more than six million loans.
The company also recently introduced “India’s first numberless co-branded credit card” in partnership with Axis Bank – the Fibe Axis Bank Credit Card In a market transaction, PB Fintech Leaders Sell Shares Worth Rs. 1,109 Crore.– to expand its credit solutions further.
According to co-founder and CEO Akshay Mehrotra, the fintech intends to utilise the additional funding to expand its market outreach, create more lending products, upgrade its technology infrastructure, and “deepen our impact across India.”
The additional funds supplement the $110 million that the Pune-based company raised during its 2022 Series D financing round.