Fibe, a consumer lending platform, has promoted Vimal Saboo to CEO of its NBFC arm, EarlySalary Services Pvt Ltd (ESPL).
Saboo was earlier the Chief Business Officer and has been with the company for almost 10 years.
With this leadership change, Fibe plans to grow its lending business, improve its digital systems, and create new secured loan products along with its main unsecured loans.
Saboo has over 20 years of experience and has worked with well-known financial companies like Axis Bank, ICICI Bank, and Edelweiss Financial Services.
“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.”
In his new role, Saboo will also work on helping Fibe grow by building smart partnerships. He will focus on making the company more responsible by following Environmental, Social, and Governance (ESG) values, aiming for long-term and sustainable growth.
“It’s a privilege to lead ESPL at such a defining moment in our growth story,” said Saboo. “My focus will be on driving scale with responsibility, fostering customer trust, and building agile, tech-driven financial solutions that meet the evolving needs of India’s borrowers.” Also Read.
Saboo was made CEO after Fibe raised $90 million in funding last June. This funding also included some existing investors selling their shares.
Since it started, Fibe has given out over 8 million loans, totaling more than ₹33,000 crore.
The company recently received an A- rating from CARE Ratings and has support from banks, NBFCs, and wholesale markets. It has also expanded its products by launching numberless credit cards with Axis Bank.
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