Fintech Startup Fibe Raises USD 90 Mn in Series E Round Led by TR Capital, Trifecta Capital, and Others The Pune-based platform aims to deploy the fresh funds to expand reach, strengthen technological infrastructure, and deepen its impact across India.
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Digital lending startup Fibe has announced the raising of USD 90 million in a Series E round led by TR Capital, Trifecta Capital, and Amara Partners.
Its existing investors, TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures, also participated in the round, which included both primary and secondary transactions.
In August 2022, Fibe completed a USD 110 million Series D investment, with Norwest Venture Partners and TPG's The Rise Fund serving as lead investors. To date, it has raised over USD 200 million in funding.
Akshay Mehrotra, Co-founder and CEO of Fibe, said, "At Fibe, we believe in fostering a culture of responsible lending and borrowing, thereby ensuring that every opportunity we provide aligns with our borrowers' aspirations and financial well-being."
"With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India. Together, we continue to pave the way for a future where every individual has the tools and support they need to thrive financially," Mehrotra added.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers personal loans and impact loans in categories like healthcare loans, edtech loans, insurance financing, and school fee financing, among others. Recently, it launched India's first numberless co-branded credit card.
Ashish Goyal, Co-founder and CFO of Fibe, added, "Over the last few years, we have launched multiple financing solutions for healthcare, insurance, and education besides our core personal loan offering to provide affordability to customers. The fresh funds will be deployed to further strengthen the existing product lines at Fibe."
The platform claims to have disbursed more than 6 million loans worth INR 20,000 crore since inception and has expanded its presence from 18 to 350 cities.
