Get All Access for $5/mo

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.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

[L-R] Akshay Mehrotra & Ashish Goyal, Co-founders of Fibe

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.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Culture

I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.