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Fibe’s lending arm, EarlySalary Services Pvt. Ltd., has successfully raised Rs 225 crore through non-convertible debentures (NCDs) to expand its digital lending operations and enhance its credit offerings. This move highlights the growing investor confidence in India’s digital lending sector.

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Fibe Raises Rs 225 Crore Via NCD Issue to Expand Digital Lending

Fibe’s lending division, EarlySalary Services Pvt. Ltd., recently secured Rs 225 crore through a non-convertible debenture (NCD) issuance aimed at driving growth and broadening its credit portfolio. The NCDs, each carrying a face value of Rs 1,00,000, were issued in July and attracted participation from multiple institutional investors. Notably, Franklin Templeton Alternative Investment Fund India subscribed Rs 20 crore in the primary tranche, signalling strong investor confidence in both Fibe and the broader digital lending sector in India.

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Strategic Funding to Support Diverse Credit Products

Since its inception in 2015, Fibe—formerly known as EarlySalary—has evolved beyond its initial salary advance product. Its expanding suite now includes tailored financial products such as education loans, healthcare financing, solar rooftop loans, digital fixed deposits, and loans against mutual funds. The recent infusion of Rs 225 crore through these NCDs will empower Fibe to further support the credit needs of India’s growing digitally savvy population.

Ashish Goyal, Whole-time Director at EarlySalary Services, emphasized the company’s commitment to maintaining asset quality while institutionalizing funding sources. “The participation of institutional investors, especially Franklin Templeton AIF India, is not just a reflection of confidence in our long-term vision, but in the digital lending sector as a whole,” he noted.

Robust Financial Performance Despite Market Challenges

Fibe posted a commendable profit after tax of Rs 101.18 crore for the fiscal year ended March 2025, marking an 82.8% jump from Rs 55.34 crore in FY24. This strong profit growth came even amidst a sharp rise in finance costs and provisioning expenses, underscoring the company’s operational resilience.

Interest income also surged by 43.3%, climbing to Rs 1,001.1 crore in FY25 from Rs 698.77 crore in FY24. Correspondingly, total revenue from operations increased 45.8%, reaching Rs 1,033.03 crore compared to Rs 708.73 crore the previous year. This growth illustrates Fibe’s expanding footprint and revenue diversification across its lending products.

Asset Quality and Risk Management

Despite some asset stress reflected in the rise of gross non-performing assets (GNPA) to 3.07% from 2.67% in the previous fiscal year, Fibe’s net non-performing assets (NPA) improved from 1.30% to 0.89%. This indicates effective risk management practices helping to mitigate credit losses.

Capital Market Engagement and Future Prospects

Beyond the latest Rs 225 crore NCD issue, Fibe raised Rs 560 crore in FY25 through listed and secured NCDs backed by receivables instruments listed on the Bombay Stock Exchange (BSE). These capital market instruments highlight the company’s strategic approach to diversify and institutionalize its funding sources to fuel sustainable growth.

About Fibe’s Digital Lending Journey

Founded in 2015, Fibe has demonstrated a strong commitment to innovation and diversification in digital lending. With over 8 million loans disbursed totaling more than Rs 33,000 crore through various lending partners, Fibe continues to carve a significant niche in serving the financial needs of India’s emerging digital consumer base.

With the fresh capital from the recent NCD issue, EarlySalary Services Pvt. Ltd. is positioned to expand credit offerings further and meet the evolving demands of Indian consumers, lighting the way for inclusive and accessible lending in the digital era.

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