TPG-backed digital lending firm Fibe elevates Vimal Saboo as CEO of NBFC arm

Digital lending platform Fibe has elevated Vimal Saboo as the Chief Executive Officer of EarlySalary Services Pvt Ltd (ESPL), its non-banking financial company (NBFC) arm, as the company looks to scale up its lending business and sharpen vertical focus.

Saboo, who was earlier the Chief Business Officer at Fibe, has been part of the leadership team for over nine years. In his new role, he will be responsible for expanding ESPL’s lending operations, scaling digital infrastructure, and designing targeted credit products for underserved customer segments, the firm said in a press release. He will also oversee ESG integration and strategic partnerships.

“Vimal has been a driving force behind ESPL’s evolution and success,” said Akshay Mehrotra, Co-founder and Group CEO of Fibe. “His elevation reflects our intent to build sharper leadership at both group and unit levels.”

Saboo added that his focus will be on building responsible, agile, and tech-led credit solutions. “Having been part of the journey for nearly a decade, I’ve seen the power of innovation in lending. I look forward to leading ESPL at this defining moment,” he said.

Fibe, formerly EarlySalary, is offers personal loans, particularly focused on healthcare and education financing, via both partnership model and its in-house NBFC. The firm recently ventured into rooftop solar financing solution, and is raising $35 million from IFC, the World Bank's investment arm. The company's loan book jumped over 4 times in the last two years from Rs 1019 crore to Rs 4,428 crore as on June 2024.

The company has also been expanding into co-branded credit cards in partnership with Axis Bank.