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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.

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