Fibe launches UPI payments after securing NPCI approval

Digital lending platform Fibe has launched its UPI payment service after receiving approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP).

The service will be available to users across India, including those who are not existing Fibe customers, a statement said. 

It will allow users to make payments through linked bank accounts, RuPay credit cards and eligible credit lines on UPI.

With this launch, Fibe is expanding beyond lending into everyday digital payments, adding another service to its growing financial products portfolio.

The company, earlier known as EarlySalary, already offers products such as the Fibe Axis Bank Credit Card, fixed deposits, loans against mutual funds, and financing solutions for healthcare, education and rooftop solar.

"Digital payments have become central to how consumers manage their everyday finances. As this behaviour deepens, the opportunity is not just to make payments faster, but to give users greater choice, control and value in every transaction," said Akshay Mehrotra, managing director and group CEO, Fibe, in the statement.

In December last year, Fibe had raised $35 million in a Series F funding round led by International Finance Corp (IFC), a member of the World Bank group. Existing investors including TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance and Chiratae Ventures also participated in the funding round.

Its previous major fundraises included a $90 million Series E in June 2024 and a $110 million Series D in August 2022.

Founded in 2015 by Mehrotra and Ashish Goyal, Fibe offers personal and long-term loans, loans against mutual funds, digital fixed deposits, and impact-focused loans for healthcare, education and rooftop solar.