Fibe elevates Vimal Saboo as CEO of non-banking financial arm ESPL
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Pune-based consumer lending platform Fibe has promoted Vimal Saboo as CEO of EarlySalary Services Private Limited ESPL ), its non-banking financial company (NBFC). Saboo currently serves as Chief Business Officer of Fibe, and has served in the leadership role for over nine years.Fibe is looking to strengthen its lending business by scaling up lending operations, improving digital infrastructure, and building tailored credit solutions, it said in a statement.Saboo has more than two decades of experience, and has worked with companies such as Axis Bank Edelweiss Financial Services and others.In the current role, Saboo will also focus on expanding the company's reach through strategic partnerships and integrating Environmental, Social, and Governance (ESG) principles to support long-term growth.'Vimal has been a driving force behind ESPL's evolution and success,' said Akshay Mehrotra, cofounder & 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.'This appointment comes after Fibe closed a $90 million financing round in June last year, which included a secondary share sale by existing investors, as reported by ET. The round saw Hong Kong-based TR Capital contribute close to $32 million to acquire a mix of secondary and primary shares.
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