Fibe is an online lending platform that has raised $66 million in a series E round. The round, which included several investors and was led by TPG’s Rise Fund and Kabira Holdings, was the startup’s first fundraising round in two years. The startup intends to use this fund to grow its infrastructure and make its platform more secure and easily accessible. Here we are talking about Digital lending platform Fibe secured $66 million in its Series E round led by the Rise fund.
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 scale up operations, meet market demand, and enhance its technology. This series E round was led by the rising fund with $16 million, followed by Kabira holdings with $15 million investment, and it had the participation of investors including Eight Road Ventures, Trifecta, Amara partners, Chirate, and Norwest Capital.
Here we are discussing the Digital lending platform Fibe secured $66 million in its Series E round led by the Rise fund:
The startup data intelligence platform, The Kredible, predicted the company to have a post-money valuation of around $600 million, valued at $350 million during its series D round. After the funding round, TPG’s The Rise Fund holds the most significant stake at 22.72 percent, followed by Eight Road Ventures at 15.8% of the startup’s shares. Previously, in August. The startup raised $110 million for its series D round led by TPG’s The Rise Fund and Northwest Venture Partners.
Fibe has raised over $200 million from all its funding rounds. The company increased operating revenue by 2.3 times in FY32; however, the loss also increased by 9 times in the same duration. Kredible reported operating revenue of 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 Rise Fund and Kabira Holdings. This series E round was led by the rising fund with $16 million, followed by Kabira holdings with a $15 million investment, and it has the participation of 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 most significant stake at 22.72 percent, followed by Eight Road Ventures at 15.8% of the startup’s shares. 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 TPG’s The Rise Fund held the most significant stake with 22.72 percent after this round. The platform predicted its revenue to increase more than two times. The company had a post-money valuation of around $600 million, valued at $350 million during its series D round.
