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Thakur Ambuj Singh
🚀 Entrepreneur | Re... • 1d
Digital lending platform Fibe.India (Formerly EarlySalary) has raised INR 225 Cr (about $25 Mn) in debt from a host of financial institutions, including Franklin Templeton Alternative Investments Fund, India👇 Fibe said in a statement that it has issued 22,500 non-convertible debentures (NCDs) at a face value of INR 1 Lakh each. The fresh proceeds will be deployed by the startup to strengthen its lending operations. Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers short-term and long-term loans to the salaried class of the nation. Users can avail loans between INR 5,000 to INR 5,00,000 from the lending platform. Fibe lends money via various offerings such as cash loans, personal loans, buy-now pay-later model and instant salary advances. Mehrotra and Goyal have worked in the BFSI space and carry more than 15 years of professional experience. They both worked as executives in Bajaj Allianz Life Insurance.
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