Fibe Launches AI Credit Radar Amidst IPO Preparations in India

TPG-backed Fibe, a digital lending platform, has launched an AI-powered credit intelligence and management platform named Credit AI Radar (CAIR). This introduction occurs as the company prepares for an Initial Public Offering (IPO).

CAIR aims to assist Indian consumers in understanding, managing, and improving their credit health beyond conventional credit scores. It integrates data from multiple credit bureaus with Fibe’s proprietary AI engine, FibeSense.

Understanding Credit AI Radar

A central feature of CAIR is Fiora, an AI chatbot designed to answer credit-related inquiries in several Indian languages. These include Hindi, English, Marathi, Tamil, Telugu, and Kannada.

The platform further offers personalized credit improvement plans and score simulation tools. These functionalities enable users to visualize the potential impact of various financial actions on their credit scores.

Fibe stated that CAIR identifies behavioral patterns and hidden signals influencing credit. It alerts users to issues such as high credit utilization and prioritizes steps for improvement, all while maintaining data privacy with explicit user consent.

IPO Details Emerge

Fibe’s parent company, Social Worth Technologies Ltd, filed draft papers with SEBI in June, detailing its IPO plans. The public issue will comprise a fresh issue of equity shares valued up to ₹750 crore.

Additionally, the IPO includes an Offer-for-Sale (OFS) of over 4 crore equity shares by existing shareholders. Funds from the fresh issue are designated to bolster the capital base of its subsidiary, ESPL, for lending activities, with the remaining capital allocated for general corporate purposes.

Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors, and JM Financial are serving as the book-running lead managers for the public issue.