Fibe, the rebranded name of EarlySalary, has successfully secured $35 million in a Series F funding round spearheaded by the International Finance Corporation. This funding is expected to have a substantial impact in FY26. In the fiscal year concluding March 2025, the consumer lending firm disclosed a remarkable nearly 50% increase in operating revenue, surpassing Rs 1,200 crore, alongside a double-digit rise in profit.
Fibe’s operational revenue surged by 49% year-on-year, reaching Rs 1,228 crore in FY25 compared to Rs 824 crore in FY24, as per its consolidated financial statements submitted to the Registrar of Companies (RoC). Established in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers various financial solutions, including personal loans, long-term loans, and loans against mutual funds and fixed deposits, catering to sectors like healthcare, education, and solar rooftop installations. The firm proudly states it has facilitated over 9 million loans, with total disbursements exceeding Rs 40,000 crore through a network of more than 8,500 lenders.
The primary source of revenue for Fibe was interest on loans, accounting for over 80% of its total operating revenue. This segment saw a growth of 46% in FY25, crossing the Rs 1,000 crore threshold. Additionally, the firm generated income from servicing fees for managing loan collections and administration on behalf of its lending partners. It has established partnerships with various banks and non-banking financial companies (NBFCs), including Northern Arc Capital, InCred Finance, and Tata Capital, among others.
Furthermore, the income from guarantee premiums, which are fees charged for providing default protection to lending partners, reached Rs 104 crore for Fibe, marking an 83% year-on-year growth. The remaining revenue streams included marketing income, commission income, and other operational sources. Fibe also accrued approximately Rs 41 crore from non-operational sources like interest income and gains from the sale of current investments, bringing its total income to Rs 1,269 crore in the previous fiscal year.
For this consumer lending establishment, finance costs constituted the most significant expenditure, representing over 62% of total costs. This stood at Rs 691 crore in FY25, escalating by 85% year-on-year from Rs 373 crore in FY24. A notable portion encompassed Rs 257 crore towards loan write-offs and Rs 207 crore as losses on guarantees invoked.
Advertising and promotional expenditures, another key cost driver for Fibe, amounted to Rs 128 crore in FY25. The costs related to employee benefits, which accounted for under 10% of the total expenses, increased by 34% to Rs 111 crore, which included Rs 9.2 crore in ESOP costs. Commission payments to selling agents, along with legal, professional, travel expenses and various miscellaneous overheads, escalated the firm’s total expenses to Rs 1,112 crore in FY25 from Rs 706 crore in FY24.
An increase in non-operational income, which rose from Rs 18 crore to Rs 41 crore, enabled the Pune-based company to achieve a 13% increase in profit, totalling Rs 114 crore. Fibe incurred Rs 0.91 to generate one rupee of operational revenue on a unit basis. As of March 2025, the firm reported total current assets of Rs 3,135 crore, inclusive of a cash and bank balance amounting to Rs 259 crore.
To date, Fibe has raised over $265 million, including a recent $90 million Series E funding round led by TR Capital, Trifecta Capital, and Amara Partners. Last August, Fibe also secured Rs 250 crore in debt for its lending branch, EarlySalary, from a consortium of investors, including AK Capital Finance.
