On Thursday, the lending platform EarlySalary announced a rebrand as Fibe. The business has changed its logo, issued an upgraded version of its app, and moved to a new website as part of the rebranding.
EarlySalary, a Pune-based company founded in 2016 by Ashish Goyal and Akshay Mehrotra, offers instant loans to salaried people in addition to buy now pay later (BNPL), instant cash loans, instant salary advances, and skill development loans.
Plugging a gap in the sector, and a wide one, the brand quickly became the largest consumer lending service provider. This spurred growth, and with it a rebranding with a refreshed look, identity and a name to tie it all together – Fibe.
Commenting on the rebranding, Mr. Akshay Mehrotra, Co-founder and CEO, Fibe said, “EarlySalary as a brand name worked well for us when we started with our Salary Advance business. Over the years, we have launched a suite of financial products ranging from Instant Cash Loans as well as BNPL facilities across Edtech, Healthcare and Consumer tech. Furthermore, we’ve also evolved to serve a more diverse customer base. Hence, the change in brand positioning was pertinent.”
He further added that, “Fibe will focus on multi-channel and multi-vertical customer acquisition. The new branding backed by technology is bound to create ease of access and thereby creating a frictionless experience for availing of financial services.”
Fibe perfectly suits their intent – to provide a positive, hassle-free financing experience that consumers deserve when interacting with a modern FinTech. Their goal is to be the go-to financial ecosystem that combines approachability, delight, friendliness, understanding and professionalism, all in one relatable package, the company said in a statement.
Sharing his insights on the move, Mr. Ashish Goyal, Co-founder and CFO said, “The rebranding reflects our broader vision of growing our services and customer segment. EarlySalary as a brand name has built positively in the minds of our consumers and Fibe shall continue to resonate the same going forward. The new name aptly describes our ethos to provide services that create positive vibes.”
Fibe will continue to innovate for the ever-evolving consumer, staying approachable all through. The company has already disbursed nearly 2.8 million loans worth $1 billion, and that’s just the start. The next step for Fibe is to fortify its presence by achieving an AUM of $2.5 billion over the next 5 years. By furthering the product suite and expanding operations across verticals, Fibe is primed to service a wider segment of consumer personas across newer geolocations in tier III and tier IV cities.
About EarlySalary (rebranded as Fibe)
Fibe (Formerly EarlySalary) is a new FinTech start-up in Pune. They are promising to create ripples in the way lending will happen in the country. They are building their mobile first platform, smart risk scoring system and soon will introduce a fast & easy way to get a loan or buy products and pay-later. They are currently building a smart and young team who together will build this start-up into a buzziest FinTech brand.