City
Epaper

Digital lending platform Fibe raises $90 mn led by TR Capital, others

By IANS | Updated: June 5, 2024 17:05 IST

New Delhi, June 5 Digital lending platform Fibe said on Wednesday that it raised $90 million in a ...

Open in App

New Delhi, June 5 Digital lending platform Fibe said on Wednesday that it raised $90 million in a Series E round led by TR Capital, Trifecta Capital and Amara Partners.

Its existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round.

"With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India. Together, we continue to pave the way for a future where every individual has the tools and support they need to thrive financially," Akshay Mehrotra, Co-founder & CEO, Fibe, said in a statement.

Fibe (then EarlySalary) was founded in 2015 by Mehrotra and Ashish Goyal. With a hyper-focus on lending technology and risk management systems, the company has been able to offer lower credit costs to consumers.

"Over the last few years, we have launched multiple financing solutions for healthcare, insurance and education besides our core personal loan offering to provide affordability to customers," said Goyal.

"The fresh funds will be deployed to further strengthen the existing product lines at Fibe," he added.

The startup also recently launched India’s first numberless co-branded credit card.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalIran moves to suspend cooperation with UN nuclear watchdog IAEA

InternationalIsraeli military strikes several locations in Iran moments after Trump announces ceasefire

InternationalTrump announces ceasefire between Iran, Israel 

InternationalNatural resources should be shared based on treaties: UN spokesperson on IWT

InternationalUS issues travel advisory for citizens in Iran after Tehran's missile strikes on its bases in Qatar

Technology Realted Stories

TechnologyFM Sitharaman directs CBDT to cut pendency in grievance redressal mechanisms

TechnologyLike UPI, Unified Lending Interface poised to transform credit delivery: Govt

TechnologyGovt extends cut-off date to opt for Unified Pension Scheme to September 30

TechnologySC lauds Tamil Nadu’s preventive detention against cyber offenders

TechnologyExtreme poverty in India drops from 21 pc to 5 pc under PM Modi’s leadership: Pralhad Joshi