IFC Leads $35 Million Series F Funding
Consumer lending company Fibe has raised $35 million in a Series F round, led by the International Finance Corporation (IFC), part of the World Bank Group. This fresh infusion strengthens Fibe’s capital base as it accelerates financial inclusion and expands lending products for India’s emerging middle-income users.
Growing Investor Backing and Previous Rounds
Fibe has now raised over $266 million in equity, including secondary transactions, and is backed by marquee global investors such as TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance and Chiratae Ventures. The firm previously closed a $90 million Series E in June 2024 and a $110 million Series D in August 2022.
Its lending arm, EarlySalary, recently secured Rs 250 crore ($26.5 million) in non-convertible debentures (NCDs) from institutional investors including AK Capital Finance, Franklin Templeton AIF and Vivriti Alpha, boosting balance sheet strength and credit capacity.
Multi-Product Lending Platform for Emerging Borrowers
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers a comprehensive suite of financial products including personal loans, long-term loans, loans against mutual funds, digital fixed deposits and sector-focused impact loans spanning education, healthcare and solar rooftop solutions. The company said fresh capital will help it broaden its product portfolio and deliver unified borrowing, saving, investment and payment experiences, while advancing responsible credit and socio-economic outcomes.
National Footprint and Rapid Growth Metrics
Fibe claims it has processed over 9 million loans, operating across 940+ cities, supported by 8,500 partner centers and more than 50 channel partners. The fintech has emerged as a major player in healthcare and education financing, offering technology-led accessibility and alternative credit for underserved users.
Financially, Fibe’s consolidated revenue rose 2X to Rs 812 crore in FY24, up from Rs 392 crore in FY23, while profits surged 18X to Rs 101 crore, compared to Rs 5.4 crore a year earlier.
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