Lending startup Fibe raises Rs 225 Cr via NCDs to fuel disbursals
Fibe, formerly known as EarlySalary, has grown beyond its original salary advance offering to include products like education and healthcare financing, solar rooftop loans, digital fixed deposits, and loans against mutual funds.
Fibe’s lending arm, EarlySalary Services Pvt. Ltd., on Tuesday said it raised Rs 225 crore through an NCD issue to fuel growth and expand credit.
The non-convertible debentures—each with a face value of Rs 1,00,000—were issued in July and saw participation from multiple institutional investors, including Franklin Templeton Alternative Investment Fund India, which subscribed Rs 20 crore in the primary tranche.
“We have always remained focused on maintaining asset quality while working to diversify and institutionalise our funding sources,” said Ashish Goyal, Whole-time Director at EarlySalary Services. “The participation of institutional investors, especially Franklin Templeton AIF India, is not just a reflection of confidence in our long-term vision, but in the digital lending sector as a whole.”
Founded in 2015, Fibe, formerly known as EarlySalary, has grown beyond its original salary advance offering to include products like education and healthcare financing, solar rooftop loans, digital fixed deposits, and loans against mutual funds.
“With the additional debt capital, we will continue to serve the credit needs of India’s rising, digitally savvy population,” Goyal added. The company has disbursed over 8 million loans, totalling more than Rs 33,000 crore, through its lending partners.
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.
The company 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.
Gross non-performing assets (GNPA) as a share of the loan book rose to 3.07% in FY25 from 2.67% in FY24, reflecting some asset stress. Net NPA improved to 0.89%, down from 1.30% in FY24.
Fibe raised Rs 560 crore through listed, secured NCDs in FY25, backed by receivables instruments listed on the BSE.
Edited by Suman Singh