Digital Lending Platform Fibe Raises INR 225 Cr via NCDs to Boost Lending Operations
In a significant move to bolster its lending capabilities, digital lending platform Fibe has raised INR 225 Cr (approximately $25 million) in debt funding. The fresh capital was secured through the issuance of 22,500 non-convertible debentures (NCDs), each with a face value of INR 1 lakh. The round saw participation from several financial institutions, including Franklin Templeton Alternative Investments Fund, India.
This fundraise marks an important milestone for Fibe as it looks to strengthen its presence in the growing Indian digital lending ecosystem. According to the company, the proceeds will be utilized to scale up its lending operations, enabling better access to short-term and long-term credit for salaried individuals across the country.
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Fibe’s Mission: Making Credit More Accessible
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe (formerly known as EarlySalary) is focused on serving the credit needs of India’s salaried middle class. The platform enables users to avail loans ranging from INR 5,000 to INR 5,00,000, offering fast and flexible credit options without traditional banking hassles.
The company’s lending model is diverse, comprising offerings such as:
- Instant personal loans
- Cash loans
- Salary advances
- Buy-now-pay-later (BNPL) solutions
Fibe’s technology-driven approach simplifies the loan application process, making it quick and paperless. The platform leverages data analytics and alternative credit scoring models to assess risk and offer credit to underserved segments who may not have access to conventional credit lines.
Strong Founding Team with BFSI Experience
Co-founders Akshay Mehrotra and Ashish Goyal bring deep experience from the BFSI (Banking, Financial Services, and Insurance) industry. Both previously held senior roles at Bajaj Allianz Life Insurance, equipping them with the industry knowledge and strategic insight to navigate the competitive fintech landscape.
Their collective experience of over 15 years in financial services has helped shape Fibe’s mission to bridge the credit gap for salaried professionals, especially the youth and first-time borrowers in urban and semi-urban areas.
Growing Opportunity in Digital Lending
The digital lending sector in India is experiencing rapid growth, fueled by increasing smartphone penetration, demand for instant credit, and rising financial awareness among younger consumers. As traditional banking channels struggle to cater to this evolving demand, platforms like Fibe are well-positioned to fill the gap with innovative, tech-enabled lending solutions.
With this fresh capital injection, Fibe aims to expand its loan book, strengthen underwriting models, and invest in technology infrastructure to support its growing user base.
What This Means for Investors and the Fintech Sector
Fibe’s successful debt raise from reputed institutions signals strong investor confidence in the scalability and sustainability of digital lending platforms in India. It also underlines a broader trend of alternative investments flowing into high-growth fintech ventures.
As regulatory frameworks around digital lending continue to evolve, companies like Fibe that combine responsible lending practices with technological innovation are expected to thrive and play a vital role in reshaping India’s credit ecosystem.
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