Fibe elevates Vimal Saboo as CEO of non-banking financial arm ESPL

Pune-based consumer lending platform Fibe has promoted Vimal Saboo as the chief executive officer of EarlySalary Services Pvt Ltd (ESPL), its non-banking financial company (NBFC). Saboo, who has been with the digital lending startup for close to a decade, was operating as its chief business officer.

Fibe is looking to strengthen its business by scaling up lending operations, strengthening its digital infrastructure, and building new credit solutions, it said in a statement. ET reported on June 19 that Fibe, which primarily offers unsecured consumer loans, is focusing on building secured credit products.

Saboo has more than two decades of experience, and has worked with companies such as Axis Bank, ICICI Bank, Edelweiss Financial Services and others.


In the current role, Saboo will also focus on expanding the company's reach through strategic partnerships and integrating Environmental, Social, and Governance (ESG) principles to support long-term growth.

“Vimal has been a driving force behind ESPL’s evolution and success,” said Akshay Mehrotra, group CEO of Fibe. “His elevation to CEO of ESPL reflects our intent to strengthen our lending business and build a leadership structure that allows sharper focus at both the group and business unit levels.”

This appointment comes after Fibe closed a $90 million financing round in June last year, which included a secondary share sale by existing investors, as reported by ET. The round saw Hong Kong-based TR Capital contribute close to $32 million to acquire a mix of secondary and primary shares.