Fibe raises USD 90M in Series E Funding

Fibe, a Mumbai, India-based consumer app that enables the mid-income group to fulfil their aspirations, raised USD 90M in Series E funding.

The round was led by TR Capital, Trifecta Capital and Amara Partners. Existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the funding.

The company intends to use the funds to expand operations and its development efforts.

Co-founded by Akshay Mehrotra and Ashish Goyal, Fibe (previously EarlySalary) provides a consumer app focused on young, aspirational, and tech-savvy Indian consumers. The company has launched a host of financial products like Cash Loans, long-term Personal Loans and Buy Now Pay Later plans.

Its technology arm – Social Worth Technologies Pvt. Ltd. – has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card.

The company has already disbursed more than 6 million+ loans worth Rs. 20,000 Cr+.

Source: FinSMEs

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