Fibe Appoints Vimal Saboo as CEO of EarlySalary Services
Digital lending platform Fibe has appointed Vimal Saboo as the Chief Executive Officer of EarlySalary Services Pvt Ltd (ESPL), its non-banking financial company (NBFC) division, as the firm aims to enhance its lending operations and focus on specific sectors.
Vimal, who previously served as the Chief Business Officer at Fibe, has been with the leadership team for more than nine years.
In his new position, he will be tasked with growing ESPL’s lending activities, enhancing digital infrastructure, and creating specialized credit products for underserved customer demographics, according to reports. He will also manage ESG integration and strategic alliances.
Akshay Mehrotra, Co-founder and Group CEO of Fibe says, “Vimal has been a driving force behind ESPL’s evolution and success. 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.
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“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,” adds Vimal.
Fibe, formerly EarlySalary, offers personal loans, particularly focused on healthcare and education financing, via both a partnership model and its in-house NBFC. The firm recently ventured into rooftop solar financing solutions, and is raising $35 million from IFC, the World Bank's investment arm.
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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.