Consumer lending platform Fibe has raised $35 million in a Series F funding round led by the International Finance Corporation (IFC).
This latest investment brings Fibe’s total equity funding to over $266 million, building on a $110 million Series D, and $90 million Series E last year.
Formerly known as EarlySalary, Fibe offers personal loans, long-term loans, loans against mutual funds, and digital fixed deposits through its online platform.
The company was created by CEO Akshay Mehrotra and and CFO Ashish Goyal in 2015, and focuses on impact-driven lending in sectors such as healthcare, education, and renewable energy.
In a statement, Mehrotra says: “This capital will help us enhance our product suite further and deliver a unified experience across borrowing, saving, investing, and payments.”
Based in Pune, India, the company has remained profitable for the past four years, and counts Amara Partners, TR Capital, Trifecta Capital, TPG Rise Fund, and Norwest Venture Partners among its backers.
Source: https://www.fintechfutures.com/
