Fibe Raises USD 90 mn in Series E round
Summary
With hyper focus on lending technology and risk management systems, Fibe has been able to offer lower credit costs to consumers. The company aims to make rapid strides in its impact lending segment and therefore will deploy the new fund for business expansion, market outreach and curate more tailor-made products across its impact loans portfolio.Commenting on the fund raise, Akshay Mehrotra, Co-founder & CEO, Fibe said, "The infusion of new capital not only fuels our growth but also highlights our dedication to empowering Indias youth on their journey towards fulfilling their dreams. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India. "Ashish Goyal, Co-founder & CFO, Fibe added, "Over the last few years, we have launched multiple financing solutions for healthcare, insurance and education besides our core personal loan offering to provide affordability to customers. Today, Fibe has access to debt lines to leading PSUs & Private Banks, Large Notable NBFCs and NDCs.