Pune-based Fintech company Fibe has 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, which included both primary and secondary transactions.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe (then EarlySalary), has to date raised close to $199 million, all primary funding. 

The company is among the leading players in the consumer lending segment, with its personal loan and impact loan portfolio, including categories like healthcare loans, edtech loans, insurance financing and school fee financing. With a hyper-focus on lending technology and risk management systems, Fibe has been able to offer lower credit costs to consumers. The brand also recently launched the country’s first numberless co-branded credit card.

Moving beyond a typical financial solutions provider, Fibe is also making rapid strides in its impact lending segment, and will deploy the new fund for business expansion, and market outreach and curate more tailor-made products across its impact loans portfolio.

Mehrotra, Co-founder & CEO, Fibe, said, the infusion of new capital would not fuel growth and foster a culture of responsible lending and borrowing. “With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India,” Mehrotra said.

Ashish Goyal, Co-founder and CFO, Fibe, said the company had over the last few years launched multiple financing solutions for healthcare, insurance and education besides the core personal loan offering. The fresh funds will be deployed to further strengthen the existing product lines at Fibe, he said.

Fibe plans to grow to `5,000-6,000 crore AUM levels this fiscal. Disbursals were at `10,000 crore last year. The company operates in the unsecured segment and has a 91% repeat rate. They have reduced exposure to lower ticket size loans, started taking better quality customers and built partnerships, which helped them keep the entire portfolio healthy, Goyal said. Fibe has been generating profits and has been profitable for 12 quarters. Almost 40% of Fibe’s loans are on co-lending with eight to ten large NBFC partners. The loan tenure has increased from one month earlier to six months now,  the average ticket size has gone from `20,000 to `60,000 and the average EMI was at around `7,000. 

Fibe has 33 lenders and also raising money from HNIs and through NCDs. Fibe had raised `400 crore in FY24 through debt.