Fintech firm Fibe raises $35 million from IFC in Series F funding

Fintech firm Fibe raised a $35 million investment as part of its Series F funding from International Finance Corporation (IFC) — a member of the World Bank Group.

 

The Series F investment comes about 18 months after the Pune-based company raised $90 million in a Series E funding round led by TR Capital, Trifecta Capital, and Amara Partners.

 

The recently raised capital will enable the company to enhance its suite of products.

 

“IFC’s investment is a meaningful milestone in our journey to make impact-led financial solutions accessible and affordable for millions. Over the years, we have built a diversified base of lending partners, a resilient risk engine, credible credit ratings, and a distribution network that strengthens our reach across India,” said Akshay Mehrotra, managing director and group chief executive officer (CEO), Fibe.

 

 

To date, the firm has raised over $266 million in equity funding, including secondaries.

 

It is backed by investors including TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, Piramal Finance Limited, and Chiratae Ventures.

 

“IFC’s equity investment will both expand responsible financing for underserved individuals, especially women, and strengthen Fibe’s responsible finance approach. This support will help families manage healthcare needs, invest in education, and build financial resilience. This partnership advances our commitment to human capital and inclusive growth by bringing affordable, technology-enabled financial solutions to those who need them most,” said Imad N Fakhoury, IFC regional division director for South Asia.

 

The company was founded in 2015 by Mehrotra and Ashish Goyal. It offers personal, healthcare and edtech loans, insurance financing, school fee financing and other products.

 

Fibe has facilitated more than 9 million loans to date.