SEBI approves Fibe's ₹750 crore IPO plan
India's securities regulator has approved digital lending startup Fibe's proposal to raise up to ₹750 crore through a fresh share issue and let existing investors sell over 40 million shares in an IPO. Investors including TPG, Norwest Venture Partners, Chiratae Ventures, and Eight Roads Ventures will sell stakes. Fibe plans to invest ₹562.6 crore of the proceeds into its lending subsidiary EarlySalary Services Pvt Ltd, aiming to strengthen its financial position.
- SEBI approved the IPO for up to ₹750 crore
- Over 40 million shares to be sold by current investors
- TPG, Norwest, Chiratae, Piramal, Eight Roads selling stakes
- ₹562.6 crore to bolster NBFC subsidiary's capital
- Fibe is a digital lender focused on personal loans
Sources covering this
More in Startups
Uber invests $10 million more in Carrum Mobility
Uber has put another $10 million into Carrum Mobility, an Indian fleet management startup. This brings its total investment for the year to $17 million. Carrum runs a platform for managing CNG and electric vehicle fleets, focusing on premium cars for Uber Black. The new cash will help Carrum expand to more cities, improve its tech, and hire more staff.
Google says startup accelerator alumni now valued at $139 billion
Google says startups graduating from its accelerator programs have hit a combined valuation of $139.2 billion. Since launching its first accelerator ten years ago, Google reports alumni collectively raised $47.8 billion and now employ 205,100 people. The company currently runs 20 accelerator programs spanning early-stage startups, nonprofits, AI labs, and app developers, across six continents.
Y Combinator led August startup investments, Nvidia increased pace
Y Combinator invested in at least 18 U.S. startup funding rounds of $5 million or more in August, making it the most active backer by deal count. Nvidia sharply ramped up its startup investments, taking part in nine such deals—its busiest month on record—with $1.3 billion in led or co-led financings. Global venture funding hit $42 billion for the month, more than doubling year-on-year.
Félix raises $200M for WhatsApp remittance tool
Félix, which lets Latino immigrants send money home via WhatsApp, just raised $200 million in Series C funding. Andreessen Horowitz put in $87 million of equity; General Catalyst gave $113 million in growth debt. The Miami startup says it’s handled over $8 billion in payments so far, serving U.S. users with families in 11 Latin American countries. Félix plans to expand into new markets with the cash.