NEWS
NEWS
Fibe unveils Digital FDs, strengthening its role as a One-Stop Financial Partner
Fibe, one of India’ s leading digital lending platforms, has forayed into the investment space with the launch of its next-generation Digital Fixed Deposit( FD) offering. Designed with enhanced convenience and accessibility, this product will allow individuals to open fixed deposit accounts through Fibe’ s app. Customers can book an FD from the bank or NBFC of their choosing without the need for having a savings account in the same bank.
Fibe’ s newest offering aggregates options from multiple partner banks and NBFCs, allowing financially-savvy individuals to easily compare interest rates and choose an option tailored to their financial goals. It will provide them with high-yield deposit options, with interest rates of up to 9.1 % for senior citizens, all via the Fibe app.
This product offering comes after the Fibe’ s Millennial Upgrade Index study indicated that 39 % millennials aim to achieve longterm goals such as home ownership and entrepreneurship through savings, while 26 % prefer to save before making major purchases, signifying that millennials are increasingly prioritising disciplined saving and long-term planning.
Akshay Mehrotra, Co-founder and CEO, Fibe, said:“ The launch of our Digital Fixed Deposit addresses the evolving needs of the tech-savvy generation by modernising a traditional investment instrument, making it more accessible, flexible and aligned with contemporary financial goals. This initiative reflects our long-term vision of shaping the financial journeys of individuals during various stages of their life, especially India’ s young, digitally connected population.”
Sorbet secures US $ 25 million debt facility and debuts new payroll integration feature for financial flexibility for employees
Sorbet, the leading FinTech platform that helps employees access the financial value of their unused Paid Time Off( PTO), announced a US $ 25 million debt facility from a fund managed by Pier Asset Management, a private credit investment firm supporting high-growth FinTech companies. This announcement comes at a critical moment, as persistent inflation and tighter credit markets have left many Americans with fewer options to access much-needed liquidity. The new facility will allow Sorbet to meet strong and sustained demand from employers and employees nationwide. more than US $ 75 million in unlocked PTO value, underscoring the scale of employee need and enthusiasm for modern, earnedbenefit-based financial tools. By uncovering an historically overlooked financial asset, Sorbet has the proprietary, AI-powered data and unique decisioning insight to offer low-risk loans based on information other consumer lenders are blind to.
“ Our mission is to inspire employees and employers with a new way of thinking about Paid Time Off, transforming unused hours and days into a powerful tool for smarter financial planning that helps Americans take meaningful steps toward financial freedom and security,” said Veetahl Eilat-Raichel, Co-founder and CEO of Sorbet.
Sorbet has emerged as the category leader in unlocking the hidden monetary value of PTO, enabling employees across the US to advance their unused PTO as they accrue it, without having to wait until they leave their job. To date, Sorbet has received over 200,000 applications, representing
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