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TPG-backed Fibe set to bag a cheque from new investor

VCCircle

VCCircle · 2m ago

TPG-backed Fibe set to bag a cheque from new investor

Digital lending platform Fibe, backed by TPG and TR Capital, is poised to receive new funding from a global investor. The platform, operated by Pune-based Social Worth Technologies Pvt Ltd, strengthens its financial backing as a marquee investor joins its cap table.

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Related News

TPG-backed Fibe’s FY23 profit jumps but bad loans, borrowing costs climb

VCCircle

VCCircle · 1y ago

TPG-backed Fibe’s FY23 profit jumps but bad loans, borrowing costs climb

TPG-backed Fibe, formerly known as EarlySalary, experienced a significant increase in profit for the fiscal year ending in March 2023. However, the company also faces challenges due to higher bad loans and elevated borrowing costs. TPG's The Rise Fund and Norwest are among the investors in Fibe.

TPG-backed Fibe’s FY23 profit jumps, NPAs remain in control

VCCircle

VCCircle · 1y ago

TPG-backed Fibe’s FY23 profit jumps, NPAs remain in control

TPG-backed Fibe, an online lending platform formerly known as EarlySalary, witnessed a significant increase in profit for the fiscal year ending in March 2023. The company successfully reduced its borrowing cost and has managed to keep its Non-Performing Assets (NPAs) under control. Fibe's investors include private equity firm TPG's The Rise Fund and Norwest Venture Partners.

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

Economic Times

Economic Times · 21d 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.

ADV, NewQuest-backed U Gro snags capital from Dutch investor

VCCircle

VCCircle · 1y ago

ADV, NewQuest-backed U Gro snags capital from Dutch investor

U Gro Capital, a non-banking lender backed by ADV Partners and TPG NewQuest, has secured new debt capital of around Rs 250 crore ($30 million) from Dutch investor FMO. The funds were raised through the issuance of non-convertible debentures with a tenor of four years. U Gro Capital aims to utilize the funds to further strengthen its lending operations.

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.

TPG set to get LP cheque for $1 bn climate-focused fund with India mandate

VCCircle

VCCircle · 4m ago

TPG set to get LP cheque for $1 bn climate-focused fund with India mandate

US-based private equity firm TPG is poised to secure an investment from a prominent limited partner for its climate-focused fund, the TPG Rise Climate Global South Initiative. This fund aims to raise up to $1 billion to invest in green businesses across emerging economies, with a focus on India. Through this initiative, TPG plans to bolster sustainable development by backing environmentally responsible companies and projects in these regions.

TPG-backed SK Finance set to launch Rs 1,600 crore IPO next week: Report

Economic Times

Economic Times · 19d ago

TPG-backed SK Finance set to launch Rs 1,600 crore IPO next week: Report

SK Finance Ltd., an Indian financing company backed by TPG, is set to launch its initial public offering (IPO) potentially next week. The IPO, initially planned to raise 22 billion rupees, is expected to fetch about 16 billion rupees ($182 million). The offering involves both new shares worth up to 5 billion rupees and existing shares from current shareholders like TPG and Norwest Venture Partners. Funds will support business needs such as lending and corporate purposes.

Africa-focussed Acumen gets cheque from for new renewable energy fund

VCCircle

VCCircle · 10m ago

Africa-focussed Acumen gets cheque from for new renewable energy fund

- Acumen, an impact investor in Africa, is set to receive funding for its renewable energy fund. - The investment commitment is expected to come from a global financial institution. - Acumen focuses on supporting social enterprises in Sub-Saharan Africa and South Asia. - The New York-based organization has invested in over 215 companies to date. - The renewable energy fund aims to provide access to clean and affordable energy in underserved areas. - The funding will help accelerate the growth of renewable energy initiatives in Africa.

TPG, HBM retune India exit plan in benchmark-beating move

VCCircle

VCCircle · 8m ago

TPG, HBM retune India exit plan in benchmark-beating move

US private equity firm TPG and Swiss healthcare investor HBM Partners have altered their exit strategy for an Indian investment in a move that is expected to outperform traditional benchmarks set by alternative investment firms. Rather than completely exiting their positions, TPG and HBM will sell a portion of their stakes in the company. The revised plan is aimed at maximizing returns in the South Asian market.

TPG set to strike new private equity deal in India

VCCircle

VCCircle · 7m ago

TPG set to strike new private equity deal in India

TPG, a leading private equity firm active in India, is preparing to acquire a significant minority stake in a local company. Known for numerous exits last year, TPG is set to initiate a new investment deal early in the year, continuing its active investment strategy within the region.

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