India-based fintech, Fibe, has raised $90m in a Series E round led by TR Capital, Trifecta Capital and Amara Partners. The funding round included both primary and secondary transactions.
Fibe’s consumer lending portfolio includes personal loan and impact loans such as healthcare loans, edtech loans, insurance financing and school fee financing. With a focus on lending technology and risk management, Fibe says it can offer lower credit costs to consumers. The brand also recently launched India’s first numberless co-branded credit card.
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Fibe: 6 million loans disbursed since 2015
Fibe was founded in 2015 and since then has granted more than six million loans. According to Fibe it plays a pivotal role in fulfilling the aspirations of young India, the world’s largest workforce. The company aims to make rapid strides in its impact lending segment. It will deploy the new funds for business expansion, market outreach and curate more tailor-made products across its impact loans portfolio.
Akshay Mehrotra, co-founder & CEO, Fibe said: “The infusion of new capital not only fuels our growth. It also highlights our dedication to empowering India’s youth on their journey towards fulfilling their dreams. At Fibe, we believe in fostering a culture of responsible lending and borrowing, thereby ensuring that every opportunity we provide aligns with our borrowers’ aspirations and financial well-being. 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.”
Ashish Goyal, co-founder & CFO, Fibe added, “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. The fresh funds will be deployed to further strengthen the existing product lines at Fibe. We remain committed to our journey towards sustainable expansion and are committed to meeting the evolving needs of our customers.”
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