Digital Lender Fibe Prepares To File For IPO To Raise ₹2,000 Crore In Fresh Issue

Fintech lender Fibe, earlier known as EarlySalary, is preparing to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) that could raise up to ₹2,000 crore, according to sources cited by Moneycontrol. The filing is expected within the next two to three weeks.

The IPO will consist of a fresh issue of shares along with an offer for sale (OFS) by existing investors. Funds raised through the fresh issue are expected to be used primarily to strengthen the company’s balance sheet and support expansion of its loan book.

Fibe is backed by prominent institutional investors including TPG, Norwest Venture Partners, and the International Finance Corporation (IFC).

The company’s move towards a public listing comes amid a broader trend of fintech and digital lending firms seeking capital market access, driven by investor interest in profitable and regulated financial technology businesses.

In recent months, other players in the digital lending ecosystem have also moved towards public markets.

MSME lender Aye Finance raised ₹1,010 crore through its IPO in February, while OnEMI Technology Solutions, which operates Kissht and Moneyview platforms, has also filed for a listing.

Founded in 2015, Fibe began as a salary advance platform and later expanded into a broader digital lending business. In September 2022, it rebranded from EarlySalary to Fibe.

While its consumer-facing brand is Fibe, the lending operations continue through its NBFC arm, EarlySalary Services.

The company currently manages a loan book of over $1 billion, covering personal loans as well as purpose-driven financing such as medical, education, travel, insurance, and other consumption-related lending.

It operates in over 940 cities and has partnerships with more than 6,500 merchant locations.

Its average loan ticket size stands at around ₹95,000, with an average repayment tenure of 14 months. Personal loans account for about 60% of the portfolio, while purpose-driven loans make up the remaining 40%.

Around 60% of its loans are on-balance-sheet, with 40% structured through co-lending partnerships.

Fibe’s business model emphasizes automation and repeat customer behaviour, with most loans processed in real time and minimal manual intervention.

A significant portion of monthly lending comes from existing customers, reducing reliance on high-cost customer acquisition.