Fibe Secures $90 Million in Series E Funding:
- 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
- Company Background:
- Former Name: EarlySalary
- Founded: 2015
- Core Offering: Personal loans
- Expanded Solutions: Financing for insurance, healthcare, and education sectors
- 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)
- 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
- Previous Funding:
- Series D Round: Raised $110 million in 2022
- CEO Statement:
- Akshay Mehrotra: Co-founder and CEO emphasized the goal of expanding impact and developing new solutions across India.
