Digital lending platform Fibe raises $90M in a Series E round led by TR Capital, others

Digital lending platform Fibe, formerly known as EarlySalary, has raised $99 million in a Series E funding round led by TR Capital, Trifecta Capital and Amara Partners.

Existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round, which included both primary and secondary transactions.

What is the purpose of fundraising?

With this latest funding, the startup plans to use the raised capital to enhance its impact lending portfolio by focusing on market outreach and curating tailor-made lending products.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers cash loans, long-term personal loans, and ‘buy now pay later’ services through a digital process.

The startup has raised more than $200 million to date and competes with other lending firms such as Slice, LoanTap, PaySense, MoneyTap, and IndiaLends.

Leadership comments

“The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India’s youth on their journey towards fulfilling their dreams. At Fibe, we believe in fostering a culture of responsible lending and borrowing, thereby ensuring that every opportunity we provide aligns with our borrowers’ aspirations and financial well-being. 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,” said Goyal, the company’s CFO.