Fintech platform Fibe has attracted 35 million dollars in new Series F funding from International Finance Corporation, a member of the World Bank Group. This new investment comes about 18 months after the Pune based company closed its Series E round of 90 million dollars led by a group of investors.
The company said the latest infusion will support the expansion of its product portfolio. Akshay Mehrotra, managing director and group chief executive officer of Fibe, said, “IFC’s investment is a meaningful milestone in our journey to make impact led financial solutions accessible and affordable for millions. Over the years, we have built a diversified base of lending partners, a resilient risk engine, credible credit ratings, and a distribution network that strengthens our reach across India.”
So far, Fibe has secured more than 266 million dollars in equity funding including secondaries. Its investor list includes TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, Piramal Finance Limited, and Chiratae Ventures.
Sharing the rationale behind the investment, Imad N Fakhoury, IFC regional division director for South Asia, said, “IFC’s equity investment will both expand responsible financing for underserved individuals, especially women, and strengthen Fibe’s responsible finance approach. This support will help families manage healthcare needs, invest in education, and build financial resilience. This partnership advances our commitment to human capital and inclusive growth by bringing affordable, technology enabled financial solutions to those who need them most.”
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers personal loans, healthcare and edtech loans, insurance financing, school fee financing and related services. The company has facilitated more than 9 million loans to date.
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