Consumer lending platform Fibe has raised $90 million in its Series E round led by TR Capital, Trifecta Capital, and Amara Partners in the backdrop of increased regulatory scrutiny on fintech players.
Existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Venture, and Chiratae Ventures also participated in the round, which included both primary and secondary transactions.
Fibe plans to deploy the funding to enhance its impact lending portfolio by focusing on market outreach and curating tailor-made lending products.
The funding comes just days after the Reserve Bank of India (RBI) formally launched a fintech repository to aid policymakers in understanding the ecosystem and formulating regulations, further underscoring the trend of increasing regulatory scrutiny in the sector.
“With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India,” said Akshay Mehrotra, Co-founder & CEO, Fibe, highlighting near-term plans.
The company offers personal and impact loans in multiple categories including healthcare, edtech, insurance financing, and school fees financing.
Ashish Goyal, Co-founder & CFO, Fibe, said, the “fresh funds will be deployed to further strengthen the existing product lines at Fibe.”
Fibe, earlier known as EarlySalary, says it has disbursed more than 6 million loans worth more than ₹20,000 crores since inception and has expanded its presence from 18 to 350 cities.
Edited by Megha Reddy
