Fibe bets on AI as profit doubles ahead of ₹1000+ crore IPO

Fibe, the digital consumer lending platform run by Social Worth Technologies Ltd, which has recently filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), is putting artificial intelligence (AI) at the centre of its lending business to augment its purpose-driven financing portfolio.

Fibe’s model is shaped by a change in what young, digitally active borrowers want. They are looking for quick, seamless financing tied to a specific need, ranging from a course fee, a hospital bill, an insurance premium, a rooftop solar installation, a holiday, to an online purchase.

Traditional lenders rely mainly on bureau history and standard financial parameters. Fibe’s AI-based scorecard instead looks at 27,000+ variables, so a customer is judged on many data points rather than a single measure of creditworthiness.

FibeSense is the company’s AI-led system for understanding customers’ requirements and supporting personalised credit decisions. FibeSense reflects the company’s broader focus on applying AI to understand customer requirements, strengthen credit assessment and support more personalised and efficient decision-making.

As mentioned in its offer document, during FY26, the company received 15.74 million loan applications, of which 2.02 million were approved. Around 95% of loans were subject to automated decisioning, demonstrating how AI and machine learning have become integral to the company’s underwriting architecture.

“The company has integrated AI into its operations through Fibe Sense, a suite of proprietary AI-based tools designed to support efficiency across various business functions”, management said in the offer document.

Since 2021, the company has expanded its purpose-driven financing portfolio across education, healthcare, insurance, rooftop solar, travel and e-commerce. The aim is to meet credit needs linked to specific spending rather than treat consumer lending as one undifferentiated category.

Fibe's revenue rose 31% year-on-year in FY26 and has more than doubled in two years. Net profit jumped about 126% in FY26. Assets under management (AUM) stood at ₹8,602.74 crore as of 31 March 2026, more than double the ₹4,064.15 crore of two years earlier. Personal loans make up about 77% of AUM. Purpose-driven financing accounts for ₹1,945.98 crore.

The company has received SEBI’s observations on its proposed initial public offering (IPO).

The proposed IPO comprises a fresh issue of up to ₹750 crore worth of equity shares and an offer-for-sale (OFS) of more than 4 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). According to the company, the total size of the IPO can exceed ₹1,000 crore mark.

It may also raise up to ₹150 crore in a pre-IPO placement. If it does, the fresh issue will shrink by that amount.

Kotak Mahindra Capital, Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers. The shares will list on BSE and NSE.

According to its offer document, Fibe plans to expand its products and services based on customer demand and preferences, scale its distribution network, deepen its integration with partner ecosystems, and keep investing in technology, including artificial intelligence, across its operations.

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