Fibe has raised $35 million in its Series F funding round, led by the International Finance Corporation (IFC), a member of the World Bank Group.
The latest infusion takes the company’s total equity raised to more than $266 million, including secondaries, with backing from investors such as TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance and Chiratae Ventures.
The new round follows Fibe’s earlier raises, including a $90 million Series E in June 2024 and $110 million Series D in August 2022. Its lending arm, EarlySalary, recently secured Rs 250 crore (approximately $26.5 million) through non-convertible debentures from investors including AK Capital Finance, Franklin Templeton AIF and Vivriti Alpha.
Fibe said the fresh capital will be used to enhance its product suite and deliver a unified experience across borrowing, saving, investing and payments, while maintaining a focus on responsible credit and positive socio-economic impact.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers a wide range of products, including personal loans, long-term loans, loans against mutual funds, digital fixed deposits and sector-focused impact loans spanning healthcare, education and solar rooftop financing. The company claims to have facilitated more than nine million loans to date, positioning it as a key FinTech player in healthcare and education lending.
Fibe has expanded its presence to more than 940 cities across India through technology-led outreach, supported by over 8,500 partner centres and more than 50 channel partners. The company has not yet disclosed its FY25 financials.
For the year ended March 2024, its consolidated revenue doubled to Rs 812 crore, up from Rs 392 crore in FY23, while profits rose sharply to Rs 101 crore, compared with Rs 5.4 crore in the previous year.
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