Fibe, the Pune-based digital consumer lending platform formerly known as EarlySalary, is reportedly in advanced talks to raise $35 million in a fresh funding round, led by the International Finance Corporation (IFC). The company has also approached existing backers, including Eight Roads Ventures, Norwest Venture Partners, and TPG’s Rise Fund, to participate in the round.
This new capital infusion would add to the $228 million Fibe has raised to date, including $90 million in June 2023. The funding momentum reflects growing confidence in the company’s profitable growth trajectory.
Fibe offers a wide suite of digital lending products, including personal loans, credit cards, education and medical loans, checkout finance, and green energy loans. The fintech reported a net profit of ₹100 crore (~$11.3 million) and revenue of over ₹1,000 crore (~$113.8 million) for the last financial year.
As of June 2023, Fibe’s assets under management (AUM) stood at ₹4,428 crore (~$504.2 million), with 56% held through its NBFC arm, EarlySalary Services, according to India Ratings and Research.
With profitability, a diversified lending portfolio, and strong investor interest, Fibe is positioning itself as a key player in India’s fast-evolving digital lending ecosystem.
