Digital Lending Platform Fibe Raises $90 Million in Series E Round Led by TR Capital, Trifecta Capital, and Amara Partners

Mumbai, June 5, 2024 – Digital lending platform Fibe announced on Wednesday that it has successfully raised $90 million in a Series E funding round. This round was led by TR Capital, Trifecta Capital, and Amara Partners, marking a significant milestone in Fibe's growth trajectory.

The latest infusion of capital will enable Fibe to expand its market reach, enhance its technological infrastructure, and introduce new financial products aimed at underserved populations. The Series E round reaffirms investor confidence in Fibe's business model and its potential to revolutionize digital lending in India.

"We are thrilled to welcome TR Capital, Trifecta Capital, and Amara Partners on board as we continue our journey to democratize access to credit," said Akash Jain, CEO of Fibe. "This investment will not only help us scale our operations but also accelerate our mission to provide inclusive financial solutions to millions of individuals and small businesses."

TR Capital, a leading private equity firm with a focus on high-growth companies, expressed optimism about their investment in Fibe. "Fibe has demonstrated impressive growth and innovation in the digital lending space. We believe in their vision and are excited to support their efforts to enhance financial inclusion in India," said a representative from TR Capital.

Trifecta Capital, known for its expertise in venture debt and growth capital, and Amara Partners, a strategic investment firm, also highlighted their enthusiasm for Fibe's future prospects. "Fibe's technology-driven approach to lending has set new standards in the industry. We are committed to supporting their growth and helping them reach new heights," said Nilesh Kothari, Managing Partner at Trifecta Capital.

Founded in 2018, Fibe has quickly established itself as a key player in the digital lending market, offering a range of financial products including personal loans, business loans, and credit lines. The platform leverages advanced AI and machine learning algorithms to assess creditworthiness, ensuring a streamlined and efficient lending process.

The Series E funding round comes at a time when the digital lending sector in India is witnessing rapid growth. Increased internet penetration, smartphone usage, and a shift towards online financial services have fueled demand for digital lending solutions. Fibe's robust technology infrastructure and customer-centric approach position it well to capitalize on these trends.

With the new funding, Fibe plans to further develop its platform, introduce innovative financial products, and expand its presence across India. The company is also committed to enhancing its customer support services and ensuring a seamless user experience.

Industry experts view Fibe's latest funding round as a significant boost for the digital lending ecosystem in India. "Fibe's successful Series E round underscores the growing importance of digital lending platforms in providing accessible credit solutions. This investment will likely pave the way for further innovation and growth in the sector," said Arvind Singh, a financial analyst.

As Fibe gears up for its next phase of growth, the company remains focused on its core mission of financial inclusion. "We believe that access to credit is a fundamental right. Our goal is to empower individuals and businesses with the financial tools they need to thrive," Jain added.

The infusion of $90 million will undoubtedly propel Fibe towards achieving its ambitious goals, positioning it as a leader in the digital lending industry. As the company continues to innovate and expand, it stands ready to meet the evolving financial needs of India's diverse population.