Pune-based fintech startup Fibe filed its draft red herring prospectus (DRHP) with SEBI this week, aiming to raise up to ₹750 crore through a fresh issue and an offer-for-sale of over 4 crore shares. Founded in 2015 as EarlySalary, the company has evolved from a personal loan app to a diversified consumer finance platform, expanding its offerings beyond salary advances to include education, healthcare, insurance, travel, and rooftop solar financing, according to inc42.com.
Initially focused on providing quick salary advances to young working professionals, EarlySalary adapted to changing market dynamics and consumer demands by broadening its product portfolio. The startup's transition was driven by rising competition and tighter regulations from the Reserve Bank of India, which prompted a strategic shift towards a wider financial ecosystem. This evolution positions Fibe as more than just a personal loan provider, reflecting its decade-long transformation, inc42.com reported.
Fibe’s IPO filing comes amid a growing trend of Indian fintech startups tapping public markets to fund growth and diversification. The company’s move aligns with sector peers that have expanded offerings to capture broader consumer finance needs. By entering segments like education and healthcare financing, Fibe aims to differentiate itself in a competitive digital lending landscape that has matured significantly over recent years, according to inc42.com.
The IPO will include a fresh issue of up to ₹750 crore and an offer-for-sale of over 4 crore shares, marking a critical milestone in Fibe’s growth journey. The company’s listing will add to the increasing number of fintech firms seeking public capital to fuel expansion across multiple consumer finance verticals, inc42.com noted.