Fibe raises $90 million in fresh funding round

Fintech firm Fibe on Wednesday said it has raised $90 million in a funding round led by TR Capital, Trifecta Capital and Amara Partners.

Fibe's existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the funding round, including primary and secondary transactions.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe facilitates consumer finances like healthcare loans, edtech loans, insurance financing, and school fee financing, among others.

"The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India's youth on their journey towards fulfilling their dreams. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India," Fibe co-founder and CEO Akshay Mehrotra said.

Fibe claims to have disbursed more than 6 million loans worth over Rs 20,000 crore since inception.

"The fresh funds will be deployed to further strengthen the existing product lines at Fibe. We remain committed to our journey towards sustainable expansion and are committed to meeting the evolving needs of our customers," Fibe co-founder and CFO Ashish Goyal said.