Cyril Amarchand Mangaldas Advised Social Worth Technologies (Fibe) On Series E Funding
Cyril Amarchand Mangaldas Advised Social Worth Technologies (Fibe) On Series E Funding
Cyril Amarchand Mangaldas acted as the legal Counsel to Social Worth Technologies Private Limited (Fibe) and its founders, in relation to Series E primary and secondary investment by TPG, Norwest, Eight Roads, TR Capital, Trifecta, Amara and Chiratae in the company. We also advised Eight Roads and the seed investors in the current round.
Fibe, formerly known as EarlySalary, has closed a $90 million financing round, which included a secondary share sale by some existing investors.
Notably, Hong Kong-based TR Capital contributed around $32 million to acquire a mix of secondary and primary shares, alongside Trifecta Capital and Amara Partners. Of the total funding, $66 million was in primary investment while the rest was for secondary shares.
The transaction team from Cyril Amarchand Mangaldas included Partner Sharada Tanalpat Ramachandra, Partner Lakshmi Prakash, Principal Associate Jesika Babel, Senior Associate Mahima Goel, and Associates Ann Clara Tomy, Shrish Gautam, Anisha Keshava, Varshini Prasad, Marc Martin, Vanshika Agarwal, and Ashwin Satheesh. Senior Advisor Ganesh Kumar provided strategic input and guidance.
Fibe, based in Pune, India, specializes in consumer lending and aims to utilize the funding to further its growth and expansion plans.
