Fibe Raises INR 225 Cr In Debt Funding

Lending Tech Startup Fibe Raises $35 Mn To Enhance Product Suite

SUMMARY

Fibe has rasied fresh funds in debt from a host of financial institutions, including Franklin Templeton Alternative Investments Fund, India

The startup has issued 22,500 non-convertible debentures at a face value of INR 1 Lakh each

The fresh proceeds will be deployed by the startup to strengthen its lending operations

Digital lending platform Fibe has raised INR 225 Cr (about $25 Mn) in debt from a host of financial institutions, including Franklin Templeton Alternative Investments Fund, India.

Fibe said in a statement that it has issued 22,500 non-convertible debentures (NCDs) at a face value of INR 1 Lakh each. The fresh proceeds will be deployed by the startup to strengthen its lending operations.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers short-term and long-term loans to the salaried class of the nation. Users can avail loans between INR 5,000 to INR 5,00,000 from the lending platform. Fibe lends money via various offerings such as cash loans, personal loans, buy-now pay-later model and instant salary advances.

Mehrotra and Goyal have worked in the BFSI space and carry more than 15 years of professional experience. They both worked as executives in Bajaj Allianz Life Insurance.

According to the standalone financial statements of Fibe’s NBFC arm EarlySalary Services Pvt. Ltd, its operating revenue jumped 170% to INR 704 Cr in FY24 from INR 261 Cr in the previous financial year. Meanwhile, the startup recorded a profit after tax of INR 55 Cr during the fiscal period under review against a loss of INR 10 Cr in FY23.

The startup is yet to file its financial statements for FY25.

According to Inc42’s datalabs, prior to raising the fresh capital round, Fibe has raised $233 Mn in total funding since inception. Last year, the startup bagged $90 Mn in its Series E funding round co-led by TR Capital, Trifecta Capital and Amara Partner.

Fibe competes with the likes of PaySense, ZestMoney, Daily Salary, and Refyne operating in the country’s lending tech space which is poised to become a $1.3 Tn opportunity by 2030 according to Inc42’s State Of Indian Fintech Report H1 2025.