Personal Loans Startup Fibe Raises $90 Million

Fibe, a startup known for offering quick personal loans, has raised $90 million in a 'Series E' round led by TR Capital, Trifecta Capital and Amara Partners. Its existing investors, TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round, which included both primary and secondary transactions.

The company said it will deploy the new funds for business expansion, marketing and curating more products across categories like healthcare and education.

Fibe was founded in 2015 as EarlySalary. Today, it provides personal loans as well as across categories like healthcare loans, edtech loans, insurance financing, school fee financing, and more.

It also offers a numberless co-branded credit card with Axis Bank Ltd. The company claims to disburse more than 60 lakh loans worth Rs 20,000 crore.