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Exclusive: Consumer lending startup Fibe raises $66 Mn

Entrackr

Entrackr · 1y ago

Exclusive: Consumer lending startup Fibe raises $66 Mn

Digital lending platform Fibe (formerly EarlySalary) has raised Rs 547 crore or $66 million in Series E round led by TPG’s The Rise Fund and Kabira Holdings. This is the first round of investments for the Pune-based company in the past two years. The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows. The Rise Fund led the round with Rs 133 crore while Kabira Holdings put in Rs 125 crore. Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore, Rs 62.5 crore and Rs 55 crore, respectively. Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan duly adopted by the board. This is a developing story…

Related News

Digital lending startup Fibe eyes $35 million fundraise from IFC - The Economic Times

Economic Times

Economic Times · 5m ago

Digital lending startup Fibe eyes $35 million fundraise from IFC - The Economic Times

Digital lending startup Fibe seeks to raise $35 million in a funding round led by the International Finance Corporation (IFC), with participation from existing investors like Eight Road Ventures, Norwest Venture Partners, and TPG. Fibe has previously raised $228 million. The startup, focused on consumer loans, plans to expand into education and green energy loans. It aims to enhance its valuation and considers an IPO within two years.

Fibe raises $35 Mn in Series F round led by IFC

Entrackr

Entrackr · 1m ago

Fibe raises $35 Mn in Series F round led by IFC

Consumer lending company Fibe has raised $35 million in Series F funding round led by International Finance Corporation (IFC), a member of the World Bank Group. To date, the company has raised over $266 million in equity (including secondaries) and is backed by prominent investors including TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance, and Chiratae Ventures. The firm closed its $90 million Series E round in June 2024 and $110 million Series D in August 2022. Its lending arm EarlySalary recently received Rs 250 crore ($26.5 million) through non-convertible debentures (NCDs) from a clutch of investors including AK Capital Finance, Franklin Templeton AIF, and Vivriti Alpha. The fresh proceeds will be used to enhance our product suite further and deliver a unified experience across borrowing, saving, investing, and payments while remaining focused on responsible credit and positive socio-economic outcomes, Fibe said in a press release. Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers a broad suite of products including personal loans, long-term loans, loans against mutual funds, digital fixed deposits, and sector-focused impact loans spanning healthcare, education, and solar rooftop installations. Fibe claims that it has facilitated more than 9 million loans to date making it a major fintech player in healthcare and education financing. It has expanded its footprint to more than 940 cities across India, deepening access through technology-led outreach and scaling its lending portfolio with over 8,500 partner centers, and more than 50 channel partners. The company is yet to file its FY25 numbers. During the fiscal year ended March 2024, its consolidated revenue surged 2X to Rs 812 crore from Rs 392 crore in FY23. At the same time, profits for the company spiked 18X to Rs 101 crore in FY24, compared to Rs 5.4 crore in FY23.

RPSG Capital Ventures raises $66 mn for second fund

VCCircle

VCCircle · 1y ago

RPSG Capital Ventures raises $66 mn for second fund

RPSG Capital Ventures, an early-stage venture capital firm focused on consumer companies, has raised INR 550 crore (approximately $66 million) for its second fund. The fund, anchored by RPSG Group, received commitments from domestic limited partners including family offices, HNIs, and industry executives in the consumer sector. RPSG Capital Ventures aims to invest in new-age consumer businesses with strong unit economics, differentiated positioning, and robust teams. The firm has already made investments from its second fund, including in petcare startup Supertails and direct-to-consumer oral care brand Perfora.

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

Economic Times

Economic Times · 5m ago

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

EarlySalary Services, the NBFC arm of digital lending platform Fibe, raised Rs 225 crore through Non-Convertible Debentures with involvement from Franklin Templeton AIF and others. The funds will support lending operations and digital expansion for India’s digitally savvy, salaried population. This fundraising highlights investor confidence in the digital lending sector and Fibe's strategic growth. Founded in 2015, Fibe now offers diversified credit solutions, enhancing access to financial services for tech-savvy Indians.

Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj

Entrackr

Entrackr · 1y ago

Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj

Consumer lending and payments startup Slice has raised Rs 71.7 crore (approximately $8.6 million) from its founder and CEO, Rajan Bajaj, via partly paid-up shares. This follows the company’s recent Rs 300 crore debt funding round, raised through convertible debentures co-led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust. According to a special resolution passed by Slice’s board, 22,000 equity shares will be issued at an issue price of Rs 32,606 each, as per the company’s regulatory filing with the Registrar of Companies. Bajaj’s investment will be completed in one or more tranches and is designated for general business purposes. Slice offers a physical and virtual card aimed at millennials, allowing students and salaried professionals to purchase products and services online with collateral-free EMIs through its app, while also helping users build credit scores. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. According to TheKredible, Tiger Global is the largest stakeholder, followed closely by Insight Partners. See TheKredible for the complete shareholding pattern. While FY24 numbers are yet to be disclosed, Slice saw threefold growth in FY23, with revenue climbing to Rs 847 crore from Rs 283 crore in FY22. However, in pursuit of growth, Slice’s losses up by 59.8%, to Rs 406 crore in FY23 compared to Rs 254 crore in FY22. In 2024, several startup founders and executives have reinvested in their companies. Recently, Yubi founder and CEO Gaurav Kumar invested $30 million in his startup, while Oyo founder Ritesh Agarwal contributed $100 million through his Singapore-based entity, Patient Capital. Co-founders of EV firm Ather Energy, Tarun Mehta and Swapnil Jain, also invested $10 million in their company. Omnichannel jewelry startup Giva also raised an undisclosed sum from its senior management.

Fibe elevates Vimal Saboo to CEO of NBFC arm EarlySalary Services

YourStory

YourStory · 6m ago

Fibe elevates Vimal Saboo to CEO of NBFC arm EarlySalary Services

Digital lending startup Fibe has promoted Vimal Saboo to CEO of its NBFC arm, EarlySalary Services Private Limited. Saboo, previously Chief Business Officer, has been with the company for over nine years, contributing significantly to its lending and risk strategies. His elevation aims to strengthen Fibe’s lending focus, expand its reach to underserved segments, and integrate ESG principles. Under his leadership, EarlySalary will scale operations and enhance digital financial solutions.

Digital lender Fibe gets Series E cheque from TR Capital, others

VCCircle

VCCircle · 1y ago

Digital lender Fibe gets Series E cheque from TR Capital, others

Lendingtech startup Fibe (formerly EarlySalary) has raised $90 million in Series E funding led by private equity firms TR Capital and Amara Partners, as well as venture debt firm Trifecta Capital. The funding will be used to strengthen Fibe's existing product lines and expand its reach in the Indian market. Fibe offers personal loans and impact loans, such as healthcare loans and school fee financing. The company claims to have lowered credit costs for consumers through its lending technology and risk management systems. Fibe operates in 350 cities in India and has disbursed over 6 million loans worth Rs 20,000 crore since its inception in 2015.

Consumer lending apps on track on profitability front

Economic Times

Economic Times · 1y ago

Consumer lending apps on track on profitability front

Consumer lending fintech firms, such as Freo, Fibe, Kreditbee, and Navi, have shown signs of stability and profitability amid the pandemic. These startups have diversified their services and expanded into ancillary businesses, which has positively impacted their balance sheets. For example, Freo, backed by Peak XV, reported cash profitability since December 2023 and posted a gross revenue of Rs 350 crore in the fiscal year 2023. Fibe and Kreditbee also reported net profits, while Navi grew its digital personal loan portfolio. These firms are now exploring new product lines and partnerships to cater to a wider customer base.

Fintech startup Fibe raises $35 million from IFC in series F round - The Economic Times

Economic Times

Economic Times · 1m ago

Fintech startup Fibe raises $35 million from IFC in series F round - The Economic Times

Fintech startup Fibe, previously known as EarlySalary, has raised $35 million from the International Finance Corporation (IFC) in its series F funding. The company aims to enhance access to affordable credit for underserved middle-income households in India. This funding will help Fibe expand its product offerings and strengthen its reach across the country. Founded in 2015, Fibe offers cash loans and impact-linked financing and has facilitated over 9 million loans to date.

Exclusive: KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt Funding

Inc42 · 1y ago

Exclusive: KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt Funding

KB NBFC has secured debt funding from Yubi, Dzerv, Neo Group, OfBusiness, SK Finance, and Oxyzo. As a lending partner of KreditBee, KB NBFC joins other partners such as Incred Finance, Vivriti Capital, Northern Arc, and Pay U Finance. KreditBee previously raised $9.4 million in its extended Series D funding round from Advent International, MUFG Bank, and Premji Invest.

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