Fibe elevates Vimal Saboo to CEO of NBFC arm EarlySalary Services
Vimal Saboo, previously the Chief Business Officer, has been with the company for over nine years and played a pivotal role in building its lending and risk strategy.
Digital lending startup Fibe has promoted Vimal Saboo to Chief Executive Officer of EarlySalary Services Private Limited (ESPL), its licensed NBFC subsidiary, as it reorganises operations to deepen focus on core lending.
Saboo, previously the Chief Business Officer, has been with the company for over nine years and played a pivotal role in building its lending and risk strategy. His appointment underscores Fibe’s plan to enhance operational agility, expand reach to underserved borrowers, and embed ESG principles into its business.
“Vimal has been a driving force behind ESPL’s evolution and success,” said Akshay Mehrotra, Co-founder and Group CEO of Fibe. “His elevation to CEO of ESPL reflects our intent to strengthen our lending business and build a leadership structure that allows sharper focus at both the group and business unit levels.”
Saboo will oversee ESPL’s efforts to scale lending operations, enhance digital infrastructure, and tailor credit solutions for new-to-credit and underserved customer segments.
“It’s a privilege to lead ESPL at such a defining moment in our growth story,” said Saboo. “My focus will be on driving scale with responsibility, fostering customer trust, and building agile, tech-driven financial solutions that meet the evolving needs of India’s borrowers.”
Fibe has disbursed over 8 million loans worth more than Rs 33,000 crore since inception and was recently upgraded to A- by CARE Ratings. The company is backed by debt lines from banks, NBFCs, and wholesale markets, and has expanded into products such as numberless credit cards through a partnership with Axis Bank.
EarlySalary nearly doubled its profit in FY25, even as rivals struggled with rising defaults and slowing disbursements in the personal loan segment.
The company posted a profit after tax of Rs 101.18 crore for the year ended March 2025, up 82.8% from Rs 55.34 crore in FY24 despite a sharp uptick in finance costs and provisioning expenses.
Early Salary posted a 43.3% increase in interest income, which rose to Rs 1,001.1 crore in FY25 from Rs 698.77 crore the previous year. Its total revenue from operations climbed 45.8%, reaching Rs 1,033.03 crore from Rs 708.73 crore in FY24.
Edited by Suman Singh