Digital lender Fibe eyes $1.5B valuation in IPO
Fibe, the digital lending platform backed by TPG Capital, is gearing up for an IPO to raise ₹1,000-₹1,500 crore at a valuation topping $1 billion.
The company hopes to hit the stock market by mid to late 2024 and recently raised fresh funds—₹225 crore in debt and $90 million in equity—at a nearly $600 million valuation.
How Fibe works
Started as EarlySalary in 2015, Fibe offers quick, collateral-free loans for salaried professionals—think salary advances or loans for healthcare, education, insurance, solar rooftops and mutual funds.
Through its NBFC arm across 350 cities, it's already handed out over six million loans worth ₹20,000 crore.
Financials and future plans
Fibe's revenue doubled to ₹839 crore and profit hit ₹107 crore in FY24.
Money from the IPO will go toward tech upgrades and expanding impact lending in healthcare, education and green energy.
CARE Ratings bumped Fibe up to A- this year for its stronger scale and capitalization.