Indian fintech Fibe bags $90m in Series E funding round

Fibe Secures $90 Million in Series E Funding:

1. Funding Round:
   • Amount: $90 million
   • Round: Series E
   • Lead Investors: Amara Partners, TR Capital, and Trifecta Capital
   • Existing Backers: Chiratae Ventures, TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures
2. Company Background:
   • Former Name: EarlySalary
   • Founded: 2015
   • Core Offering: Personal loans
   • Expanded Solutions: Financing for insurance, healthcare, and education sectors
3. Achievements:
   • Loans Disbursed: Over six million since inception
   • New Product: “India’s first numberless co-branded credit card” in partnership with Axis Bank (Fibe Axis Bank Credit Card)
4. Use of Funds:
   • Market Outreach: Expanding reach in the market
   • Product Development: Creating more lending products
   • Technology Enhancement: Improving technological infrastructure
   • Impact: Deepening impact across India
5. Previous Funding:
   • Series D Round: Raised $110 million in 2022
6. CEO Statement:
   • Akshay Mehrotra: Co-founder and CEO emphasized the goal of expanding impact and developing new solutions across India.