EarlySalary, an Indian Consumer lending app, rebrands as Fibe. As part of the rebranding, the company has launched an updated version of its app and revealed its new logo.
The brand stated that the new name captures its aim of providing a range of hassle-free and affordable solutions to become the go-to financial ecosystem for every need of young aspirational Indians.
The name Fibe is a confluence of ‘Finance +vibe’ that denotes the brand’s efforts to provide a hassle-free financing experience. It believes that the name change further integrates a superior customer experience as the centerpiece of its business model.
Fibe aims to fortify its presence by achieving an AUM of $2.5 billion over the next 5 years. It had also raised $110 million in series D funding that was led by TPG’s The Rise Fund & Norwest Venture Partners in August.
With an accelerated growth vision, Fibe (previously EarlySalary) aims to expand operations across verticals to build a large presence in its product lines. It targets to build a larger network of BNPL partners. It further intends to expand its presence in tier III and tier IV cities.
Commenting on the rebranding, Akshay Mehrotra, Co-founder and CEO, Fibe said, “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 further 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 further, Ashish Goyal, Co-founder and CFO, Fibe said, “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.”
