TLDR:
Key Points:
- Fibe, a Mumbai-based consumer app, raised USD 90M in Series E funding.
- Investors in the round included TR Capital, Trifecta Capital, and Amara Partners, among others.
In a recent development, Fibe, a consumer app based in Mumbai, India, successfully raised USD 90M in Series E funding. The funding round was led by TR Capital, Trifecta Capital, and Amara Partners, with participation from existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures. Co-founded by Akshay Mehrotra and Ashish Goyal, Fibe focuses on enabling the mid-income group to fulfill their aspirations. The company plans to utilize the funds to expand its operations and further develop its offerings.
At the core of Fibe’s services is a consumer app designed for young, aspirational, and tech-savvy Indian consumers. The company has introduced various financial products, including Cash Loans, long-term Personal Loans, and Buy Now Pay Later plans. Through its technology arm, Social Worth Technologies Pvt. Ltd., Fibe has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card. To date, Fibe has disbursed over 6 million+ loans amounting to Rs. 20,000 Cr+.
