Home / Business and Economy / Fibe Secures $35M Boost for India's Underserved
Fibe Secures $35M Boost for India's Underserved
9 Dec
Summary
- Fibe received $35 million from the IFC for series F funding.
- The investment aims to expand affordable credit for underserved Indians.
- Fibe transitioned to a full-stack financial services company since 2015.
Fintech lender Fibe, previously EarlySalary, has successfully secured $35 million in series F funding from the International Finance Corporation (IFC). This significant capital infusion is strategically aimed at expanding access to affordable credit for middle-income households in India who are currently underserved by traditional financial institutions.
Since its founding in 2015, Fibe has undergone a substantial transformation, evolving from a consumer lending platform into a comprehensive financial services company. The startup has facilitated over 9 million loans, demonstrating a strong commitment to financial inclusion through disciplined credit governance and a purpose-driven approach.
This latest funding will support Fibe's product expansion and enhance its offerings across borrowing, saving, investing, and payment services. The IFC's investment underscores its dedication to human capital development and inclusive growth by promoting technology-enabled financial solutions for those most in need.
