Consumer lending startup Fibe raises $66 Mn


Fibe a digital lending platform has raised Rs 547 crore or $66 million in its Series E round led by TPG’s The Rise Fund and Kabira Holdings. This investment is taken first time in last two yrs.

The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows.

Fund led the round with Rs 133 crore ($16 million) while Kabira Holdings put in Rs 125 crore ($15 million). Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore ($5 million), Rs 62.5 crore ($7.5 million) and Rs 55 crore ($6.6 million).

Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan.

The company has been valued at around $590-600 million post-money. It was valued at $350 million during Series D. TPG’s The Rise Fund holds 22.72% stake while Eight Road Ventures, Norwest Capital, Chiratae Ventures, and Kabira Holding will be settled at around 15.8%, 13.58%, 9.59%, and 6.01%, respectively.

Fibe had raised $110 million in its Series D round led by TPG’s The Rise Fund and Norwest Venture Partners in August last year. The consumer lending firm has raised more than $200 million to date.

Fibe managed to grow its operating revenue by 2.3X in the fiscal year ending March 2023, but its losses blew over 9X in the same period. According to startup data intelligence platform TheKredible, its operating collection stood at Rs 414 crore in FY23. Meanwhile, the firm’s losses spiked to Rs 36 crore.

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