Fibe

Fibe, earlier known as EarlySalary, is a financial technology company based in India. It was started in 2015 by Akshay Mehrotra and Ashish Goyal and is located in Pune, Maharashtra. The company provides short term loans and other credit services to individuals. The name was changed to Fibe in 2022.
History
The company began operations in 2015 under the name EarlySalary. In May 2018, it acquired a consumer lending platform called CashCare.

After the acquisition, it introduced a service known as Checkout Finance, which allowed users to make purchases and pay later. In 2022, the company changed its name to Fibe.

That same year, media report estimated the company’s value at around $350 million after completing a Series D funding round led by Norwest Venture Partners and The Rise Fund, managed by TPG. In September 2022, the company increased its operations from 18 cities to 150. It also acquired HealthFin in 2022.

In January 2023, Fibe and Narayana Health launched the CareNow PayLater program to provide medical loans for planned and emergency treatments.

In August 2023, Fibe entered into a partnership with UdChalo to provide personal loan designed for Indian Defence Personnel. Through this collaboration, members of the armed forces could access personal loans, with specific interest rate offers and no charges for early repayment.

In October 2023, Fibe, in collaboration with Axis Bank, introduced a numberless credit card in India. The physical card does not include visible details such as the card number, CVV, or expiry date.

In June 2024, Fibe raised $90 million in a Series E funding round with new and existing investors. According to The Hindu, the company had given loans through over six million accounts and served 25 million users. It was operating in 350 cities.

Recognition
In 2023, Fibe was named the winner in the fintech startup category at the G20-DIA Global Startup Pitching event, organized by the Ministry of Electronics and Information Technology, Government of India.

Fibe received the IAMAI Digital Responsibility Award for improving access to healthtech services.

References

Category:2015 establishments in India
Category:Companies of India