Digital lending platform Fibe raises $90 mn led by TR Capital, others

Prameyanews English

Published By : Prameya News Bureau | June 05, 2024 IST

Fibe

New Delhi, June 5 (IANS) Digital lending platform Fibe said on Wednesday that it 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.

"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," Akshay Mehrotra, Co-founder & CEO, Fibe, said in a statement.

Fibe (then EarlySalary) was founded in 2015 by Mehrotra and Ashish Goyal. With a hyper-focus on lending technology and risk management systems, the company has been able to offer lower credit costs to consumers.

"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," said Goyal.

"The fresh funds will be deployed to further strengthen the existing product lines at Fibe," he added.

The startup also recently launched India’s first numberless co-branded credit card.

 

(IANS)

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