Fibe is an online lending platform that has raised $66 million in a series E round. The round had the  participation of several investors and was led by TPG’s rise fund and Kabira holdings. This was the first  fundraising round by this startup in two years. The startup intends to use this fund to grow its  infrastructure and make its platform more secure and easily accessible. 

The board at Fibe has approved a resolution to allot 5,46,75,600 series E CCPS at an issue price of Rs  100 each to raise Rs 547 crore. These fresh proceeds will be used to scale up operations, meet market  demand, and enhance its technology. This series E round was led by the rise fund with $16 million  followed by Kabira holdings with $15 million investment and has the participation from investors  including Eight Road Ventures, Trifecta, Amara partners, Chirate, and Norwest Capital. 

The startup data intelligence platform, The Kredible predicted the company to have a post-money valuation of around $600 million as it was valued at $350 million during its series D round. After the  funding round, TPG’s The Rise Fund holds the biggest stake with 22.72 percent followed by Eight Road  Ventures with 15.8% shares in the startup. Previously in August. The startup raised $110 million for its  series D round which was also led by TPG’s The Rise Fund and Northwest Venture Partners. 

Fibe has raised over $200 million from all its funding rounds to date. The company had an increase in  operating revenue by 2.3 times in FY32 however, the loss also increased by 9 times in the same  duration. The Kredible reported its operating collected at Rs 414 crore and a loss of Rs 36 crore in FY23.  The startup competed with PaySense, Slice, LoanTap, and MoneyTap, among others. 

Conclusion: 

An Online lending platform Fibe has raised $66 million in its series E funding round. The round had the  participation of several investors and was led by TPG’srise fund and Kabira holdings. This series E round  was led by the rise fund with $16 million followed by Kabira holdings with $15 million investment and  has the participation from investors including Eight Road Ventures, Trifecta, Amara partners, Chirate, and Norwest Capital. The board at Fibe has approved a resolution to allot 5,46,75,600 series E CCPS at  an issue price of Rs 100 each to raise Rs 547 crore.

The Rise Fund holds the biggest stake with 22.72 percent followed by Eight Road Ventures with 15.8% shares in the startup. The company intends to  use this amount to scale up its in-house infrastructure, and business development, expand to the  global market, and advance its technology. TheKredible reported that after this round, TPG’s The Rise  Fund held the largest stake with 22.72 percent. The platform predicted its revenue to increase more  than two times. The company had a post-money valuation of around $600 million as it was valued at  $350 million during its series D round.