Qbera

Qbera, founded in 2015 by Aditya Kumar, Anubhav Jain, Binay Kumar Giri, and Anuj Sachdev, operated as an online lending marketplace for personal loans based in Bengaluru, India. The company was established to address a significant gap in the credit market, focusing on salaried individuals who were often underserved by traditional banks and non-banking financial companies (NBFCs). This target demographic included employees of smaller, unlisted companies, individuals with mid-level incomes, and those with less-than-perfect credit scores.

Aditya Kumar, the founder and CEO, brought a wealth of experience from his time as an investment banker at Lehman Brothers in London and other executive roles. His background in financial services and entrepreneurship was pivotal in identifying the market need for a more inclusive lending platform. The business model centered on acting as an intermediary, using a proprietary risk-management model to assess the creditworthiness of applicants. Qbera partnered with financial institutions like IndusInd Bank, RBL Bank, and Fullerton to disburse the loans, sharing the risk according to contractual agreements. This allowed the platform to process applications digitally and quickly, often disbursing funds within 8 to 24 hours. The platform offered collateral-free personal loans ranging from ₹50,000 to ₹15,00,000 for various purposes, with tenures from 12 to 60 months.

The company raised approximately $4.97 million in funding over several rounds, with a notable $3 million investment in 2018 led by E-City Ventures, a subsidiary of the Essel Group. This funding was aimed at enhancing technology, expanding the team, and increasing its geographical footprint across India, including Tier 2 cities. By August 2018, Qbera had processed over 200,000 loan applications and disbursed more than ₹50 crore. However, the firm faced a liquidity crunch and the challenges of the COVID-19 pandemic, which led to its acquisition. In June 2020, the digital lending platform InCred acquired Qbera for an estimated $10-15 million. Following the acquisition, Aditya Kumar joined InCred to lead its platform and personal loan business, while co-founder Anuj Sachdev took on an advisory role. The acquisition marked the launch of InCred's platform business, aiming to leverage Qbera's digital distribution strengths.

Keywords: personal loans, fintech, digital lending, online marketplace, salaried individuals, credit access, underserved market, loan origination, risk assessment, financial services, NBFC partnership, InCred acquisition, Aditya Kumar, consumer lending, credit scoring, instant loans, loan disbursal, peer-to-peer lending, financial inclusion, Bengaluru startup