Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13%

Fibe, formerly EarlySalary, recently raised $35 million in a Series F round led by the International Finance Corporation. The impact of this funding will likely reflect in FY26. In the fiscal year ending March 2025, the consumer lending firm reported nearly 50% growth in operating revenue to over Rs 1,200 crore, while profit also rose in double digits.

Fibe’s revenue from operations grew 49% year-on-year to Rs 1,228 crore in FY25 from Rs 824 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC).

Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe provides personal loans, long-term loans, loans against mutual funds, and fixed deposits across healthcare, education, and solar rooftop installations. It claims to have facilitated more than 9 million loans, with total disbursements exceeding Rs 40,000 crore through over 8,500 lenders.

Interest on loans was the largest revenue contributor for Fibe, with over 80% share of its total operating revenue. This income rose 46% in FY25 and crossed the Rs 1,000 crore mark. The company also earned servicing fee income for managing loan collections and administration on behalf of lending partners. It has partnered with several banks and NBFCs, including Northern Arc Capital, InCred Finance, Tata Capital, and many others.

Income from guarantee premium, i.e. fees earned for providing default protection to lending partners, also stood at Rs 104 crore for Fibe and grew 83% year-on-year. The remaining revenue came from marketing income, commission income, and other operating sources.

Fibe also earned around Rs 41 crore from non-operating sources such as interest income and gains on the sale of current investments, and this took its total income to Rs 1,269 crore in the last fiscal year.

For the consumer lending company, finance cost formed the largest cost centre, with over 62% share of the total expenditure, and stood at Rs 691 crore in FY25 for Fibe. This cost rose 85% year-on-year from Rs 373 crore in FY24. Notably, it included Rs 257 crore towards loan write-offs and Rs 207 crore as loss on guarantees invoked.

Advertising and promotional expenses, another major cost centre for Fibe, stood at Rs 128 crore in FY25. Employee benefit expenses, which accounted for under 10% of the total cost, rose 34% to Rs 111 crore, including Rs 9.2 crore of ESOP expenses.

Commission paid to selling agents, legal & professional, travelling and other miscellaneous overheads took the overall expenses for the firm to Rs 1,112 crore in FY25 from Rs 706 crore in FY24.

Higher non-operating income, which rose from Rs 18 crore to Rs 41 crore, helped the Pune-based firm post a 13% increase in profit to Rs 114 crore. Fibe spent Rs 0.91 to earn one rupee of operating revenue on a unit basis. As of March 2025, it had total current assets of Rs 3,135 crore, which includes cash and bank balance of Rs 259 crore.

Fibe has raised over $265 million to date, including a $90 million Series E round led by TR Capital, Trifecta Capital, and Amara Partners. In August last year, Fibe also raised Rs 250 crore in debt for its lending arm, EarlySalary, from a group of investors including AK Capital Finance.