The Rise Fund of TPG and Kabira Holdings led the Rs 547 crore (or $66 million) Series E round that the digital lending platform Fibe (previously EarlySalary) raised.
According to Five’s regulatory filing, which can be viewed through the RoC, the board approved a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 per to raise Rs 547 crore.
Read also – Scimplify Secures $5 Mn New Funding Round
Additionally, Chirate and Amara Partners invested Rs. 100 crore and Rs. 29.17 crore. According to the business plan that the board formally approved, the company will use this money for growth and expansion. Entrackr was the first to report on the development.
In August of last year, Fibe completed a $110 million Series D investment, with Norwest Venture Partners and TPG’s The Rise Fund serving as lead investors. To date, the consumer loan company has raised over $200 million in funding.
The company’s valuation ranges from $590 to 600 million. In Series D, its valuation was $350 million.
About Fibe
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe is a new FinTech start-up in Pune. We are promising to create ripples in the way lending will happen in the country.
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