After Kissht and Aye Finance, Fibe (erstwhile EarlySalary) is looking to become the third lending tech startup to go public in 2026. 

The startup, which offers unsecured personal loans of up to ₹10 Lakh via an end-to-end digital process, is looking to raise up to ₹750 Cr via the issue, primarily to fuel operations of its NBFC arm, EarlySalary Services Pvt Ltd. 

Meanwhile, its backers like TPG, Piramal Finance, among others, plan to sell over 4 Cr shares via the IPO. TPG, via its investment vehicle The Rise Fund III SF Pte Ltd, holds the highest 23.26% stake in the company, while Norwest Venture Partners and Eight Roads Ventures also hold over 10% stake each. 

It is important to highlight that the lending tech startup is heading into the public markets without an identifiable promoter. Both cofounders, CEO Akshay Mehrotra and CFO Ashish Goyal, directly hold about 2% stake each in the startup, rendering them ineligible to serve as promoters, under SEBI’s ICDR Regulations. 

Interestingly, while cofounders Mehrotra and Goyal are not participating in the IPO, the 478-page IPO document reveals that the two founders already got some liquidity through a series of secondary transactions in April 2026. 

Cofounders Sold Shares Worth Over ₹100 Cr Ahead Of Filing DRHP 

In April, Goyal sold 3,009 Series D1 CCPS securities to Norwest Capital, Eight Roads Ventures, TPG, Sabre Partners, and to investor M/s Utkarsh. Meanwhile, Mehrotra sold 3,145 shares of the same class to TPG, TR Capital and Piramal Finance. 

The shares were sold at a price of ₹1.84 Lakh each, translating to a total gain of ₹113.23 Cr for the cofounders. 

At the day of filing the DRHP, Mehrotra’s stake stood at 2.10% stake in the company and Goyal owned 1.75% stake. The duo own a further 5.89% stake via another holding entity, Social Worth Tech India LLP. 

Mehrotra and Goyal cofounded Fibe in 2015. After starting out as a digital consumer lending platform offering personal loans, the startup has expanded into other financial categories like providing financing solutions to businesses operating in sectors such as education, insurance, healthcare, rooftop solar, travel and ecommerce for specific end-use purposes.

Over the years, Fibe raised close to $300 Mn over eight funding rounds. It raised its largest $110 Mn in its Series D round, led by TPG, in 2022. 

On the financial front, Fibe saw its net profit more than double to ₹257.5 Cr in FY26 from ₹113.7 Cr in the previous fiscal year. Operating revenue surged 31% to ₹1,584.6 Cr from ₹1,208.9 Cr in FY25. Its total assets under management amounted to ₹8,602.7 Cr as of March 31, 2026. 

To understand the people leading Fibe to its IPO, let’s take a closer look at the company’s board and key management.

Decoding Fibe’s Leadership Team

Board of Directors

Akshay Mehrotra

Mehrotra is the Managing Director and Group CEO of the company, and one of the company’s two cofounders. With over 22 years of experience, including expertise in marketing, he was previously associated with Future Group and Bajaj Allianz Life Insurance. In FY26, he earned gross remuneration of nearly ₹18 Cr. 

Ashish Sohan Goyal

Goyal, the other cofounder of Fibe, is the company’s chairperson, executive director, and group CFO. With over 22 years of experience in investments and finance, Goyal previously worked with Bajaj Allianz General Insurance. 

His gross remuneration in FY26 amounted to around ₹17.8 Cr. 

Hemant Kaul

Kaul has been a non-executive director since 2015. Over a career spanning more than 10 years in the field of finance, he has previously been associated with Axis Bank Limited and Bajaj Allianz General Insurance.

Simit Batra

Batra is the board nominee from TPG Capital and has been a non-executive director of the company since 2022. 

Subhasri Sriram

Shriram Capital’s managing director and CEO Sriram has been serving as a non-executive independent director on Fibe’s board since 2022. 

Hemant Kamala Jalan

Indigo Paints’ managing director Jalan joined the company’s board as a non-executive director earlier this year. Additionally, as per data from Zauba, Jalan holds director level roles at Halogen Chemicals, Zeus Numerix, Apple Chemie India, Quality Fasteners, among others.

Raj Dutta

Dutta has been a non-executive independent director of the company since 2026. He has over eight years of experience in finance and corporate affairs.

Aseem Dhru

Dhru is a non-executive independent director, who joined the board in 2026, has over 20 years of experience in banking. He is currently serving as the executive vice chairman of SBFC Finance Ltd, and previously worked as the group head at HDFC Bank.

Key Managerial Personnel

Chetan Agarwal

Agarwal is the Company Secretary and Compliance Officer of the company since November 2025. He has over eight years of experience in the field of legal and compliance and was previously associated with Sparkle Software Solutions, 63Ideas Infolabs, Sany Heavy Industry India, and Hitachi Payment Services. 

In FY26, he received a remuneration of ₹9.7 Lakh.

Anil Kumar Sinha

Sinha joined Fibe in June 2019 and became its CTO in 2020. Over a career spanning more than 22 years in the tech sector, Sinha has worked for companies like Barclays Technology Centre India, Deutsche Bank, RBS India Development Centre, Interra Information Technologies, and Nagarro Software. 

His remuneration in FY26 amounted to ₹1.83 Cr.

Balakrishnan Narayanan

Narayanan was appointed as Fibe’s chief product and analytics officer in June 2024, six years after joining. With over 14 years of experience in product and analytics, he has worked at companies like Standard Chartered Bank, GE Money Financial Services, and WNS Global Services. 

In FY26, he received a remuneration of ₹1.56 Cr.

Vimal Saboo

Saboo serves as the CEO of Fibe’s subsidiary EarlySalary Services Pvt Ltd. With over 15 years of experience in the field of finance, he was previously associated with L&T-John Deere, ICICI Bank, and Axis Bank. 

In FY26, his remuneration amounted to ₹1.72 Cr.

Amit Girish Saraf

Saraf has been associated with Fibe since November 2019. He was transferred to EarlySalary Services Pvt Ltd in December 2023, and named as its CFO in July 2025. In FY26, he received a remuneration of ₹98.1 Lakh.

V Swaminathan

Swaminathan is the Chief Compliance Officer of EarlySalary Services Pvt Ltd, having joined the company in February 2023. He is an Associate with the Institute of Company Secretaries of India with over 18 years of experience in secretarial and compliance matters. His FY26 remuneration amounted to ₹88.9 Lakh.

Mohit Sharma

Sharma has been with Fibe since January 2022 and was transferred to EarlySalary Services Pvt Ltd in April 2023. In July 2025, he was named Chief Risk Officer of the subsidiary. He is a chartered accountant who has previously worked at companies like Bajaj Finance and Bajaj Housing Finance over his 16-year career. His FY26 gross remuneration was ₹1.39 Cr. 

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