Fibe : Apne Paise Wali Vibe!

Updated: June 25

Introduction to Fibe

Originally launched as EarlySalary in 2015, Fibe was founded by Akshay Mehrotra and Ashish Goyal. Originally a digital platform providing fast salary advances to young professionals, the firm started to expand its reach. Knowing how their target audience's financial needs are changing, it renamed to Fibe in 2022 to represent a wider range of financial products targeted at improving the financial well-being of young, tech-savvy Indians. "Apni Paise wali vibes" slogan of Fibe is very popular among Indian youth. Fibe aims to create a financial ecosystem that helps mid-income groups fulfill their aspirations. 

AKSHAY MEHROTRA : Co-founder & CEO of Fibe

What They Do and Why It Matters

Fibe offers a selection of un secured, technology-driven loan options especially targeted for the underprivileged middle-income group in India. Among its offers are Cash Loans Made Right Away, Personal Lending, Acquire now, pay later (BNPL) programs, Salary increases,

For sectors like healthcare, education, and insurance funding, impact loans

Working entirely through its mobile app, Fibe guarantees a smooth, paperless experience with fast disbursements. Especially in Tier 2 and Tier 3 cities, Fibe tackles the credit shortfall many young professionals have by emphasizing affordability and accessibility.

Financial Snapshot

Fibe's operating income increased from ₹9.39 crore in FY18 to ₹428.92 crore in FY23 .

Profitability: Emphasizing its sustainable business plan, the corporation has kept profitability for twelve straight quarters. Six million loans dispersed totaling over ₹20,000 crore .

With plans to double this number over the following two years, Assets Under Management (AUM) as of March 2024 totaled ₹4,300 crore. With over 30 million downloads, the Fibe app suggests a sizable and expanding user base.

Institutional Support and Future Prospects

Series D (2022): TPG's The Rise Fund and Norwest Venture Partners led this $110 million fundraising, valuing the business at about $270 million. Series E (2024): With the involvement of current investors, TR Capital, Trifecta Capital, and Amara Partners led a round totaling $90 million. These funds will be used by the company for Increase the influence of its lending portfolio, Develop technological backbone, Extend marketing reach, Create specialized financial instruments.

Going ahead, Fibe hopes to go public within three years, hence achieving a major milestone in its path of expansion. From a salary advance platform to a thorough digital lending solution, Fibe's development highlights its dedication to meeting young Indian financial requirements. Fibe is well placed to keep its upward trajectory in India's fintech scene given strong financial performance, strategic investor support, and a clear vision for the future.

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