March 7, 2021

InCred: eLender InCred acquires fintech platform Qbera

MUMBAI: Digital lender InCred has acquired fintech platform Qbera, at a time when firms within the house are gearing up for a 12 months starved of capital and doable consolidation as a result of Covid-19 pandemic. InCred and Qbera, each, declined to touch upon the specifics of the acquisition, together with the deal worth, however sources pegged it at $10-15 million.

The acquisition will assist InCred enhance its distribution attain whereas additionally leveraging on Qbera’s current partnerships to co-originate loans and develop its portfolio of client loans, a high firm govt advised ET.

InCred, which is registered as a non-banking finance firm (NBFC) with a licence from the RBI, has a loan-book dimension of about 2,100 crore. Qbera is a fintech platform that disburses loans to salaried people by way of varied lending partnerships together with with RBL Financial institution, IndusInd Financial institution and non-bank lender Fullerton.

The platform enterprise specialises in fast disbursement of sanctioned credit score.