Fibe Secures $35 Million in Series F Funding Led by IFC
- Fibe raises $35 Million in Series F round led by IFC
- Funds to boost product expansion across credit, savings, and payments
- Revenue doubles and profit jumps 18X in FY24
Consumer lending platform Fibe has raised $35 million in its Series F funding round, led by the International Finance Corporation (IFC), part of the World Bank Group. With this round, the startup’s total equity funding now exceeds $266 million, backed by major global investors such as TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance, and Chiratae Ventures.
The company has been on a strong fundraising streak, closing a $90 million Series E round in June 2024 and a $110 million Series D in August 2022. Its lending arm, EarlySalary, recently secured Rs 250 crore ($26.5 million) through non-convertible debentures from investors including AK Capital Finance, Franklin Templeton AIF, and Vivriti Alpha.
Fibe said the fresh capital will help expand its product suite and offer a unified experience across borrowing, saving, investing, and payments. The firm emphasized that it will continue to focus on responsible lending and positive social impact.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers personal loans, long-term loans, loans against mutual funds, and digital fixed deposits, along with impact-focused credit in healthcare, education, and solar energy. The platform has disbursed over 9 million loans and expanded to more than 940 cities, supported by 8,500 partner centers and over 50 channel partners.
Also Read: Uolo Raises $7 Million to Expand AI-Driven, School-Led Edtech Model
Fibe has also shown strong financial momentum. Its consolidated revenue doubled to Rs 812 crore in FY24, compared to Rs 392 crore a year earlier. Profit surged 18X, jumping from Rs 5.4 crore in FY23 to Rs 101 crore in FY24. The company has yet to report its FY25 performance.
