Fibe Lands $35M to Strengthen Credit Access for Middle-Income Families

Akshay Mehrotra (MD and Group CEO) and Ashish Goyal (Co-Founder)

Fibe, which provides credit to underserved middle-income families in India, has raised $35m from International Finance Corporation (IFC), as part of its Series F. 

Founded in 2015, Fibe has evolved from a consumer lending platform into a full-stack financial services provider. Its digitally-enabled credit solutions are designed for young and tech-savvy individuals.

It offers personal loans, long-term loans, loans against mutual funds, digital fixed deposits and sector-focused impact loans that span healthcare, education and solar rooftop installations.

The FinTech has raised a total of $266m in equity and is backed by TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance Limited, and Chiratae Ventures.

Fibe MD and group CEO Akshay Mehrotra said, “IFC’s investment is a meaningful milestone in our journey to make impact-led financial solutions accessible and affordable for millions.

“Over the years, we have built a diversified base of lending partners, a resilient risk engine, credible credit ratings and a distribution network that strengthens our reach across India.

“This capital will help us enhance our product suite further and deliver a unified experience across borrowing, saving, investing and payments – while remaining focused on responsible credit and positive socio-economic outcomes.”

Source: FinTech Global