Lending Firm Fibe Plans 2026 IPO, Cofounders Sold Shares Worth Over ₹100 Cr

Fibe, a digital lending platform formerly known as EarlySalary, is preparing to go public in 2026, aiming to raise up to ₹750 crore (approximately $90 million USD) through an Initial Public Offering (IPO). The funds are primarily intended to fuel the operations of its non-banking financial company (NBFC) arm, EarlySalary Services Pvt Ltd. This move positions Fibe to potentially become the third lending-tech startup to list in India.

As part of the IPO process, existing investors, including TPG and Piramal Finance, are expected to sell over 4 crore shares. TPG, through The Rise Fund III SF Pte Ltd, is the largest shareholder with a 23.26% stake. Norwest Venture Partners and Eight Roads Ventures also hold significant stakes, each exceeding 10%.

Notably, Fibe is entering the public market without an identifiable promoter. SEBI regulations require promoters to hold a minimum stake, a threshold that cofounders CEO Akshay Mehrotra and CFO Ashish Goyal do not meet with their direct holdings of approximately 2% each. However, the cofounders did realize substantial liquidity prior to the IPO filing.

In April 2026, Mehrotra and Goyal collectively sold shares valued at over ₹113 crore (approximately $13.6 million USD) through secondary transactions to investors like Norwest Capital, Eight Roads Ventures, and TPG. Following these sales, Mehrotra holds a 2.10% stake and Goyal 1.75%, with an additional 5.89% held collectively via a limited liability partnership.

Founded in 2015, Fibe has expanded from personal loans to offer financing solutions for businesses across various sectors. The company has raised nearly $300 million over eight funding rounds, with its largest being a $110 million Series D in 2022 led by TPG. For the fiscal year 2026, Fibe reported a net profit exceeding ₹257.5 crore, a significant increase from the previous year, with operating revenue rising 31% to ₹1,584.6 crore.