Fibe's Financial Triumph: CARE Ratings Elevates Credit Status

India's leading fintech company, Fibe, has received an upgraded long-term credit rating from CARE Ratings, moving from BBB+ (Stable) to A- (Stable). This milestone reflects Fibe's strong financial performance, innovative consumer lending approach, and robust risk management practices. The company continues to expand its portfolio and drive financial inclusion across India.

Fibe, a prominent fintech entity in India, celebrated a significant milestone as CARE Ratings boosted its long-term credit rating from BBB+ (Stable) to A- (Stable). This advancement underscores Fibe's solid financial health, innovative lending practices, and commendable risk management strategies.

Since its inception in 2015, Fibe, formerly known as EarlySalary, has been a pioneer in consumer lending, offering diverse products, including personal loans, healthcare loans, and edtech financing. By utilizing technology and analytics, Fibe has streamlined the loan application process, facilitating quick disbursals with minimal paperwork, thereby enhancing financial accessibility for the young and ambitious segment of the Indian populace.

According to Ashish Goyal, Fibe's Co-founder & CFO, and Riddhi Shah, VP and Head of Treasury, the upgraded rating is a testament to Fibe's resilient business model and focused risk-first approach. The improvement will enable Fibe to optimize financing costs, diversify borrowing, and introduce tailored financial products, ultimately fostering financial inclusion and innovation.

(With inputs from agencies.)