"Private telecommunications company TPG boosts Vimal Saboo to the CEO position in their NBFC subsidiary"
Vimal Saboo, a seasoned financial services professional with over two decades of experience, has been appointed as the Chief Executive Officer (CEO) of EarlySalary Services Pvt. Ltd (ESPL), the non-bank lending arm of digital lending platform Fibe.
Saboo's strategic focus is to scale ESPL’s lending operations responsibly, enhance digital infrastructure, and build tailored, tech-driven credit solutions for underserved customer segments. He aims to drive growth with customer trust, agility, and innovation, integrating Environmental, Social, and Governance (ESG) principles to ensure sustainable growth. Expanding ESPL’s reach through strategic partnerships is another key priority under his leadership.
Saboo has been a crucial part of Fibe's leadership team for over nine years. During his tenure, he has led several cross-functional initiatives that have significantly contributed to the company's expansion and operational efficiency.
In 2022, Fibe raised $110 million (about Rs 879 crore) in a Series D round co-led by TPG and Norwest. TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures also participated in this funding round. Chiratae Ventures, Trifecta Capital, and Amara Partners are among the other private equity and venture capital investors that have provided equity capital to Fibe in the past.
ESPL operates under the umbrella of Pune-based Social Worth Technologies Pvt Ltd. The company offers personal loans and impact-oriented loans such as healthcare loans, edtech loans, insurance financing, and school fee financing.
In June 2024, Fibe raised $90 million in a funding round led by TR Capital, Amara Partners, and Trifecta Capital. With this investment, Fibe aims to further strengthen its digital infrastructure, scale its lending operations, and design credit products tailored to underserved segments.
Under Saboo's leadership, Fibe plans to foster customer trust through transparent and responsible lending, strengthen digital infrastructure for improved operational efficiency and customer experience, and design credit products tailored to underserved segments, including healthcare and education financing. Saboo will also focus on expanding strategic partnerships, including co-branded credit cards and new financing verticals like rooftop solar loans.
Saboo's expertise spans across lending, analytics, risk, and business strategy, making him well-equipped to lead ESPL towards its goals of responsible growth, customer-centric innovation, and sustainable development. His elevation to CEO underscores Fibe’s strategy to sharpen leadership focus specifically on their Non-Banking Finance Company (NBFC) arm to accelerate and sustain growth with innovative and customer-centric financial solutions.
Saboo's strategic focus in his new role as CEO of ESPL includes scaling lending operations responsibly, enhancing digital infrastructure, and building tech-driven credit solutions, particularly for underserved segments like healthcare and education. He aims to integrate technology and Environmental, Social, and Governance (ESG) principles to ensure sustainable growth and strengthen customer trust through transparent and responsible lending. Furthermore, Saboo plans to foster strategic partnerships, such as co-branded credit cards and rooftop solar loans, to expand ESPL's reach.
