Fibe Secures USD 90M to Revolutionize Consumer Financing in India

Fibe, a fintech firm, has raised USD 90 million in a funding round led by TR Capital, Trifecta Capital, and Amara Partners. Founded in 2015, Fibe specializes in consumer finance products like healthcare and edtech loans. The company aims to expand its reach and technological infrastructure with the new funds.


PTI | New Delhi | Updated: 05-06-2024 16:22 IST | Created: 05-06-2024 16:22 IST
Fibe Secures USD 90M to Revolutionize Consumer Financing in India
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Fintech firm Fibe announced on Wednesday that it has secured USD 90 million in a funding round led by TR Capital, Trifecta Capital, and Amara Partners.

The funding round also saw participation from existing investors like TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures. The capital injection includes both primary and secondary transactions.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe focuses on consumer financing products such as healthcare loans, edtech loans, insurance financing, and school fee financing.

Co-founder and CEO Akshay Mehrotra stated, 'The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India's youth in their journey towards fulfilling their dreams.' He added that the funds would help expand the company's reach, strengthen its technological infrastructure, and deepen its impact across India.

To date, Fibe claims to have disbursed over 6 million loans worth more than Rs 20,000 crore.

Co-founder and CFO Ashish Goyal emphasized that the fresh funds would be used to strengthen existing product lines and support sustainable expansion to meet evolving customer needs.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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