Fibe, formerly known as EarlySalary, has filed for an IPO with SEBI, aiming to raise ₹750 Cr to enhance operations and provide liquidity to investors.
New Delhi, India Jul 1, 2026 ALN: Lending tech startup Fibe, previously known as EarlySalary, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). This IPO is set to comprise a fresh issue of up to ₹750 crore, alongside an offer-for-sale component that includes over 4 crore shares.
The upcoming IPO is poised to provide a significant liquidity event for the company’s investors, including notable names such as TPG, Norwest Capital, Eight Road Ventures, and Chiratae Ventures. TPG will emerge as the largest selling shareholder, planning to offload approximately 1.17 crore shares through its holding entity, The Rise Fund III SF Pte Ltd.
Other investors, including Norwest Capital and Eight Road Ventures, are also set to sell shares, with plans to offload up to 67.38 lakh and 65.56 lakh shares, respectively. Additional investors like Piramal Finance, TR Capital, IDG Ventures, and Chiratae Ventures will also participate in the share sale through the IPO.
Fibe intends to allocate a substantial portion of the proceeds from the fresh issue to bolster the operations of its subsidiary, EarlySalary Services Pvt Ltd. The company plans to invest ₹562.6 crore in this subsidiary over the next two fiscal years, aiming to enhance its lending capabilities.
The remaining funds will be utilized for general corporate purposes, ensuring the company maintains operational flexibility as it continues to grow.
Financially, Fibe has demonstrated impressive growth, with its net profit more than doubling to ₹257.5 crore in FY26, up from ₹113.7 crore in the previous fiscal year. Operating revenue also surged by 31%, reaching ₹1,584.6 crore compared to ₹1,208.9 crore in FY25.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe is a digital consumer lending platform that provides personal loans and purpose-driven financing solutions. The company also offers embedded financing solutions at the point of purchase across various sectors, including education, insurance, healthcare, rooftop solar, travel, and e-commerce.
As of March 31, 2026, Fibe's total assets under management grew at a compound annual growth rate (CAGR) of 45.49%, reaching ₹8,602.7 crore, up from ₹4,064.15 crore as of March 31, 2024, according to the DRHP.
Fibe's merchant network has expanded significantly, now encompassing over 10,387 touchpoints across India, which includes partnerships with universities, skill development platforms, insurance companies, and a national chain of hospitals.
To date, the startup has raised close to $300 million in funding. Notably, Fibe operates without traditional promoters; instead, investors hold 66% of the company, while over 34% of its equity is held by employee trusts.
TPG’s The Rise Fund III holds the largest stake in the startup at 23.26%, while Norwest and Eight Roads each hold approximately 13%. The International Finance Corporation, which led a $35 million funding round in December 2025, holds a 5.31% stake, and Piramal Finance has a 7.06% stake. Cofounder and CEO Akshay Mehrotra owns 2.1% equity, while CFO Ashish Goyal holds a 1.75% stake.
As Fibe moves forward with its IPO plans, the startup is poised to strengthen its position in the lending tech sector, providing innovative financial solutions to a growing customer base.
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