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News on Medial
TPG-backed Fibe set to bag a cheque from new investor
VCCircle
·
2m ago
Medial
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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TPG-backed Fibe’s FY23 profit jumps but bad loans, borrowing costs climb
VCCircle
·
1y ago
Medial
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.
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TPG-backed Fibe’s FY23 profit jumps, NPAs remain in control
VCCircle
·
1y ago
Medial
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.
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Digital lending startup Fibe eyes $35 million fundraise from IFC - The Economic Times
Economic Times
·
15h ago
Medial
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.
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ADV, NewQuest-backed U Gro snags capital from Dutch investor
VCCircle
·
1y ago
Medial
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.
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TPG set to get LP cheque for $1 bn climate-focused fund with India mandate
VCCircle
·
4m ago
Medial
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.
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Digital lender Fibe gets Series E cheque from TR Capital, others
VCCircle
·
1y ago
Medial
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.
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Africa-focussed Acumen gets cheque from for new renewable energy fund
VCCircle
·
9m ago
Medial
- 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.
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TPG, HBM retune India exit plan in benchmark-beating move
VCCircle
·
7m ago
Medial
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.
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TPG set to strike new private equity deal in India
VCCircle
·
6m ago
Medial
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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TPG-backed Shadowfax acquires logistics firm as Swiss family office exits
VCCircle
·
6m ago
Medial
Shadowfax, a logistics company backed by TPG and NewQuest, has acquired another logistics service provider, leading to the exit of the target firm's Swiss family office investor. Ahead of a proposed initial public offering (IPO), Shadowfax is currently in discussions to secure a new round of funding. This strategic acquisition aligns with Shadowfax's growth plans as it strengthens its market presence and focuses on expanding its logistical capabilities, particularly in the context of its upcoming IPO.
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