Fibe Secures $90 Million in Series E Funding to Drive Expansion and Innovation
June 10, 2024, 9:34 pm
Fibe, a Mumbai-based consumer app catering to the mid-income group, has successfully raised $90 million in a Series E funding round led by prominent investors TR Capital, Trifecta Capital, and Amara Partners. This substantial investment is a testament to the company's growth potential and innovative approach to financial services in India.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe, formerly known as EarlySalary, has been at the forefront of providing digital lending solutions to young, aspirational, and tech-savvy Indian consumers. The company's platform offers a range of financial products, including cash loans, long-term personal loans, and 'buy now pay later' services, all delivered through a seamless digital process.
With a strong focus on responsible lending practices, Fibe aims to empower India's youth to fulfill their aspirations and achieve financial well-being. The company's commitment to fostering a culture of responsible borrowing and lending is reflected in its mission to provide tailored financial solutions that align with borrowers' aspirations and financial goals.
The recent funding round will enable Fibe to further expand its operations, enhance its technological infrastructure, and deepen its impact across India. The company plans to use the funds to develop new financial products, expand its market reach, and strengthen its position in the competitive Indian fintech landscape.
In addition to its core lending offerings, Fibe has recently launched India's first numberless co-branded credit card, a testament to its commitment to innovation and customer-centric solutions. The company has already disbursed over 6 million loans amounting to Rs 20,000 crore, underscoring its significant impact on the Indian financial services sector.
Despite facing increased regulatory scrutiny in the fintech industry, Fibe remains dedicated to upholding the highest standards of responsible lending and financial inclusion. The company's strategic focus on market outreach and product innovation positions it as a key player in India's rapidly evolving digital lending landscape.
As Fibe continues to drive expansion and innovation in the fintech sector, its founders, Akshay Mehrotra and Ashish Goyal, remain committed to empowering India's youth and fostering a culture of financial well-being. With the support of its investors and the backing of a strong team, Fibe is poised to make a lasting impact on the Indian financial services industry and beyond.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe, formerly known as EarlySalary, has been at the forefront of providing digital lending solutions to young, aspirational, and tech-savvy Indian consumers. The company's platform offers a range of financial products, including cash loans, long-term personal loans, and 'buy now pay later' services, all delivered through a seamless digital process.
With a strong focus on responsible lending practices, Fibe aims to empower India's youth to fulfill their aspirations and achieve financial well-being. The company's commitment to fostering a culture of responsible borrowing and lending is reflected in its mission to provide tailored financial solutions that align with borrowers' aspirations and financial goals.
The recent funding round will enable Fibe to further expand its operations, enhance its technological infrastructure, and deepen its impact across India. The company plans to use the funds to develop new financial products, expand its market reach, and strengthen its position in the competitive Indian fintech landscape.
In addition to its core lending offerings, Fibe has recently launched India's first numberless co-branded credit card, a testament to its commitment to innovation and customer-centric solutions. The company has already disbursed over 6 million loans amounting to Rs 20,000 crore, underscoring its significant impact on the Indian financial services sector.
Despite facing increased regulatory scrutiny in the fintech industry, Fibe remains dedicated to upholding the highest standards of responsible lending and financial inclusion. The company's strategic focus on market outreach and product innovation positions it as a key player in India's rapidly evolving digital lending landscape.
As Fibe continues to drive expansion and innovation in the fintech sector, its founders, Akshay Mehrotra and Ashish Goyal, remain committed to empowering India's youth and fostering a culture of financial well-being. With the support of its investors and the backing of a strong team, Fibe is poised to make a lasting impact on the Indian financial services industry and beyond.