EarlySalary Rebrands as Fibe

• Positions Fibe as a model for each monetary want of the younger aspirational Indian
• Intends to increase its buyer base to incorporate a various buyer base

​India’s largest client lending app EarlySalary is now Fibe. The new identify captures the corporate’s intention of offering a spread of hassle-free and inexpensive options to change into the go-to monetary ecosystem for each want of younger aspirational Indians.

 

As a part of the rebranding, the corporate has migrated to a brand new web site (https://www.fibe.in), launched an up to date model of its app and revealed its new brand.

 

The firm began in 2016 with a core concentrate on assembly the wants of younger Indians by offering them quick access to credit score, catering solely to younger salaried people. Over the years, the corporate created a collection of merchandise such as short-term money loans and long-term private loans of tenures starting from 3-24 months. In the final 18 months, the model additional forayed into the affordability section by launching Buy Now Pay Later (BNPL) amenities throughout Edtech, Healthtech, Shopping and Lifestyle. As a consequence, the corporate’s audience has additionally advanced to incorporate a extra various buyer base.

 

The firm has expanded its presence from 18 cities to 150 cities and elevated its buyer base from 35,000 new prospects per thirty days to 1 lakh new prospects per thirty days. The imaginative and prescient of the corporate is to service, providing a variety of merchandise to a wider section of client persona throughout expanded geolocations.

 

The identify Fibe is a confluence of ‘Finance +vibe’ that denotes the model’s efforts to offer a hassle-free financing expertise. It believes that the identify change additional integrates a superior buyer expertise as the centerpiece of its business mannequin.

 

Fibe (beforehand EarlySalary) goals to fortify its presence by attaining an AUM of $2.5 billion over the subsequent 5 years. It had additionally raised $110 million in collection D funding that was led by TPG’s The Rise Fund & Norwest Venture Partners in August.

 

With an accelerated progress imaginative and prescient, Fibe (beforehand EarlySalary) goals to increase operations throughout verticals to construct a big presence in its product strains. It targets to construct a bigger community of BNPL companions. It additional intends to increase its presence in tier III and tier IV cities.

 

Commenting on the rebranding, Mr. Akshay Mehrotra, Co-founder and CEO, Fibe mentioned, “EarlySalary as a brand name worked well for us when we started with our Salary Advance business. Over the years, we have launched a suite of financial products ranging from Instant Cash Loans as well as BNPL facilities across Edtech, Healthcare and Consumer tech. Furthermore, we’ve also evolved to serve a more diverse customer base. Hence, the change in brand positioning was pertinent.” He additional added that “Fibe will focus on multi-channel and multi-vertical customer acquisition. The new branding backed by technology is bound to create ease of access and thereby creating a frictionless experience for availing of financial services. For the same we have also created a new website called Fibe.in.”

 

Commenting additional, Mr. Ashish Goyal, Co-founder and CFO, Fibe mentioned, “The rebranding reflects our broader vision of growing our services and customer segment. EarlySalary as a brand name has built positively in the minds of our consumers and Fibe shall continue to resonate the same going forward. The new name aptly describes our ethos to provide services that create positive vibes.”