Latest news with #Fibe
Time of India
04-07-2025
- Business
- Time of India
Fibe elevates Vimal Saboo as CEO of non-banking financial arm ESPL
Academy Empower your mind, elevate your skills 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 is looking to strengthen its lending business by scaling up lending operations, improving digital infrastructure, and building tailored credit solutions, it said in a has more than two decades of experience, and has worked with companies such as Axis Bank Edelweiss Financial Services and 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.
Time of India
04-07-2025
- Business
- Time of India
Fibe elevates Vimal Saboo as CEO of EarlySalary Services
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Bengaluru: Digital lending platform Fibe has elevated Vimal Saboo to Chief Executive Officer of EarlySalary Services Private Limited ( ESPL ), its licensed NBFC (Non-Banking Financial Company) arm, the company said in a statement on takes on this role after serving as Chief Business Officer and being part of the organisation's leadership team for over nine appointment is a significant step in Fibe's ongoing efforts to strengthen its lending business through more focused leadership. In this role, Saboo will lead efforts to scale ESPL's lending operations, enhance digital infrastructure and build tailored credit solutions for underserved customer segments. He will also focus on expanding the company's reach through strategic partnerships and integrating ESG (Environmental, Social, and Governance) principles to support sustainable, long-term over two decades in financial services , Saboo has built deep expertise across lending, analytics, risk, and business strategy. At ESPL, he has led several cross-functional initiatives that have contributed significantly to the company's expansion and operational efficiency.'Vimal has been a driving force behind ESPL's evolution and success,' said Akshay Mehrotra, Co-founder & 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. I'm confident Vimal will continue to drive excellence, agility, and customer-centric growth at ESPL.''It's a privilege to lead ESPL at such a defining moment in our growth story. 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,' said Vimal Saboo, CEO of leadership development comes as Fibe prepares to refine organisational structure aimed at sharpening business vertical focus, fostering better governance, and laying the groundwork for the company's next phase of innovation-led growth.
Time of India
25-06-2025
- Business
- Time of India
Fibe launches rooftop solar financing solution, partners with 100 solar EPC firms
Digital lending platform Fibe on Tuesday said it has entered the green energy segment with the launch of its rooftop solar financing solution to make clean energy adoption more accessible to middle-income households. Fibe has partnered with more than 100 solar installation EPC companies to offer the solution pan-India, it said in a statement. Fibe CEO and co-founder Akshay Mehrotra said the company is focused on expanding its presence in Tier-II and III markets, with ongoing efforts to deepen distribution through partnerships with solar manufacturers and service providers. The product is tailored for middle-income households and the residential segment. Customers can access collateral-free loans of up to ₹5 lakh, with 100 per cent of the project cost covered, including both panel and installation expenses. "Upfront affordability has remained one of the biggest hurdles for rooftop solar adoption, especially among middle-income households in smaller cities," Mehrotra said, adding that the initiative supports the government's mission to power 1 crore homes with solar under PM Surya Ghar: Muft Bijli Yojana.
Time of India
24-06-2025
- Business
- Time of India
Fibe launches rooftop solar financing solution, partners with 100 solar EPC firms
Digital lending platform Fibe on Tuesday said it has entered the green energy segment with the launch of its rooftop solar financing solution to make clean energy adoption more accessible to middle-income households. Fibe has partnered with more than 100 solar installation EPC companies to offer the solution pan-India, it said in a statement. Fibe CEO and co-founder Akshay Mehrotra said the company is focused on expanding its presence in Tier-II and III markets, with ongoing efforts to deepen distribution through partnerships with solar manufacturers and service providers. The product is tailored for middle-income households and the residential segment. Customers can access collateral-free loans of up to Rs 5 lakh, with 100 per cent of the project cost covered, including both panel and installation expenses. "Upfront affordability has remained one of the biggest hurdles for rooftop solar adoption, especially among middle-income households in smaller cities," Mehrotra said, adding that the initiative supports the government's mission to power 1 crore homes with solar under PM Surya Ghar: Muft Bijli Yojana.
Business Standard
03-06-2025
- Business
- Business Standard
Fibe Unveils Digital FDs, Strengthening Its Role as a One-Stop Financial Partner
PRNewswire Mumbai (Maharashtra) [India], June 3: Fibe, one of India's leading digital lending platforms, has forayed into the investment space with the launch of its next-generation Digital Fixed Deposit (FD) offering. Designed with enhanced convenience and accessibility, this product will allow individuals to open fixed deposit accounts through Fibe's app. Customers can book an FD from the bank or NBFC of their choosing without the need for having a savings account in the same bank. Enables investments without a linked savings account, with options from top banks and NBFCs. Offers up to 9.1% interest and smart features like FD laddering, early access, and seamless switching. Fibe's newest offering aggregates options from multiple partner banks and NBFCs, allowing financially-savvy individuals to easily compare interest rates and choose an option tailored to their financial goals. It will provide them with high-yield deposit options, with interest rates of up to 9.1% for senior citizens--all via the Fibe app. Besides, the digital FD will offer customizable tenures from one to five years with investments as low as INR 1,000. This product offering comes after the Fibe's Millennial Upgrade Index study indicated that 39% millennials aim to achieve long-term goals such as home ownership and entrepreneurship through savings, while 26% prefer to save before making major purchases - signifying that millennials are increasingly prioritizing disciplined saving and long-term planning. Fixed deposits remain a trusted investment, especially amid market volatility. A Digital FD provides a secure and accessible solution tailored to both short- and long-term financial objectives, demonstrating Fibe's commitment to empowering the next generation of investors. This announcement also earmarks the company's first strategic step toward evolving into a comprehensive financial services platform. Its entry into the investment space signifies a pivotal milestone in this journey, with plans to introduce a broader suite of offerings in the coming years. Akshay Mehrotra, Cofounder & CEO, Fibe, said, "The launch of our Digital Fixed Deposit addresses the evolving needs of the tech-savvy generation by modernizing a traditional investment instrument--making it more accessible, flexible, and aligned with contemporary financial goals. This initiative reflects our long-term vision of shaping the financial journeys of individuals during various stages of their life, especially India's young, digitally connected population." To enhance user experience and maximize returns, Fibe's digital FD comes with a range of smart features: * Dashboard: Allows users to monitor all their fixed deposits and accumulated interests in one consolidated view. * Break FD: Allows users to access funds before maturity without compromising returns. * FD Laddering: Helps maintain a balanced portfolio by investing across multiple tenures, optimizing both liquidity and earnings. The platform supports quick digital KYC, requires no existing bank account, and offers added benefits like DICGC-insured deposits up to Rs5 lakhs for 5 years with special tax-saving options under Section 80C. About Fibe Fibe is one of India's leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group and the underserved segments to fulfil their financial aspirations. Fibe offers a range of financial products, including cash loans, long-term personal Loans, and Impact loans for sectors like healthcare and education, making affordability more accessible. Fibe offers instant approvals and quick disbursals. Fibe's Tech Arm Social Worth Technologies Private Limited has partnered with Axis Bank to offer a secure, numberless credit card ensuring a seamless user experience. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income and underserved groups in India. Due to its scalable business model, Fibe has recently been upgraded to A- by CARE Ratings and has access to debt lines from leading banks, NBFCs and wholesale debt markets. It has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). Fibe has disbursed more than 8 million+ loans worth Rs. 33,000 Cr+ since inception through its lending partners. The company has tied up with more than 8,000 partners to expand its impact and the app has recorded over 34 million all-time downloads. * Winner of BW Festival of Fintech Lending Platform of the Year (Gold) and Fintech Brand of the Year (Silver) * ET Healthcare Awards 2024 - Excellence in Affordable Healthcare Financing * Entrepreneur 2024 Founder Of The Year & Best Innovation in Financial Services * Winner of G20 Digital Innovation Alliance - Best Startup in Fintech Logo:
