Fibe, under the leadership of TPG, promotes Vimal Saboo to CEO role within its NBFC subsidiary.
In a strategic move to bolster its non-bank lending arm, EarlySalary Services Pvt. Ltd (ESPL), digital lending platform Fibe has announced the promotion of Vimal Saboo as its CEO. Saboo, who has been a key member of Fibe's leadership team for over nine years, will take on this new role in July 2025.
As CEO of ESPL, Saboo will be tasked with expanding lending operations, scaling digital infrastructure, and designing targeted credit products for underserved customer segments. He will also oversee the integration of Environmental, Social, and Governance (ESG) principles to ensure sustainable growth and foster customer trust.
Saboo's extensive experience in financial services spans over two decades, with expertise in lending, analytics, risk management, and business strategy. His deep involvement in ESPL's growth journey is evident in his leadership, during which Fibe's loan book grew over four times in two years, reaching Rs 4,428 crore by June 2024.
Under his leadership, ESPL aims to sharpen its focus on scaling lending operations, continue innovating in digital lending products, and expand into co-branded credit cards and other financial products in partnership with banks like Axis Bank. The company also plans to maintain a strong commitment to ESG integration for long-term sustainable growth.
Akshay Mehrotra, co-founder and group chief executive officer of Fibe, has announced Saboo's promotion. "Vimal's promotion is a testament to his leadership and contributions to Fibe's growth," Mehrotra said. "His expertise and vision will be instrumental in driving scale with responsibility, fostering customer trust, and creating agile and innovative credit offerings."
Fibe, operated by Pune-based Social Worth Technologies Pvt Ltd, was founded in 2015 by Mehrotra and Ashish Goyal. The company offers personal loans and impact-oriented loans such as healthcare loans, edtech loans, insurance financing, and school fee financing. In June 2024, Fibe closed a $90 million round led by TR Capital, Amara Partners, and Trifecta Capital. The company has raised equity capital from several private equity and venture capital investors, including TR Capital, Amara Partners, Trifecta Capital, TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures.
In 2022, Fibe raised $110 million (about Rs 879 crore) in a Series D round co-led by TPG and Norwest. With Saboo at the helm of ESPL, the company is poised to continue its growth trajectory and strengthen its position in the digital lending market.
- As CEO of ESPL, Vimal Saboo will leverage his expertise in lending, analytics, risk management, and business strategy to expand lending operations, scale digital infrastructure, and design targeted credit products for underserved customer segments, focusing on the integration of Environmental, Social, and Governance (ESG) principles for sustainable growth and customer trust.
- In his new role, Saboo will oversee the expansion of ESPL's product offerings, aiming to introduce co-branded credit cards and other financial products in partnership with banks like Axis Bank, while committed to continuing innovations in digital lending and maintaining a strong dedication to ESG integration, ensuring long-term sustainable growth for ESPL in the competitive digital lending market.
