Digital lending platform Fibe, previously known as EarlySalary, is planning to raise $35 million in equity funding led by the International Finance Corporation (IFC), the impact investment arm of a global financial institution. The funding round is also expected to see participation from Fibe’s existing investors, including Eight Roads Ventures, Norwest Venture Partners, and TPG Rise Fund.
So far, Fibe has raised a total of around $228 million in funding. This latest round highlights the company’s strategy to expand its services beyond personal loans and into areas such as education financing, healthcare credit, and green energy loans. The startup is also gearing up for a possible initial public offering within the next one or two years.
In addition to the equity round, Fibe’s non-banking finance company arm, EarlySalary Services, has secured ₹225 crore through non-convertible debentures. This debt raise is intended to support technology upgrades and help scale digital lending operations across India.
Fibe has built a presence in over 350 cities across the country and has served more than 25 million users to date. It has disbursed more than six million loans. For the financial year 2023, Fibe reported a net profit of ₹36.3 crore on a revenue of ₹414.3 crore.
The proposed investment from IFC represents a key milestone in Fibe’s growth journey, reflecting strong investor confidence in its mission to improve financial inclusion and broaden access to credit. The startup aims to innovate across multiple lending categories while continuing to scale its reach and impact nationwide.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
