Fintech Startup Fibe Raises USD 90M In Funding Round
(MENAFN- KNN India)
New Delhi, Jun 6 (KNN) Fibe, a fintech company founded in 2015 that provides consumer financing solutions like healthcare loans, edtech loans, and school fee financing, has raised USD 90 million in a new funding round.
The round was led by investors TR Capital, Trifecta Capital, and Amara Partners. Existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures also participated.
The funding includes both primary investments into the company as well as secondary transactions.
"This capital will fuel our growth and help us empower more young people in India to achieve their dreams through accessible financing," said Fibe co-founder and CEO Akshay Mehrotra.
Since its founding, Fibe has disbursed over 6 million loans totaling more than 20,000 crore rupees (USD 2.5 billion).
The fresh funds will be used to expand Fibe's product offerings, strengthen its technology, and grow its reach across India.
"We're committed to sustainable expansion to meet the evolving needs of our customers," added Fibe co-founder and CFO Ashish Goyal.
Fibe's lending solutions aim to increase access to financing for things like education, healthcare, and other consumer needs.
(KNN Bureau)
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