InCred Management & Technology Services Pvt. Ltd., a wholly owned subsidiary of InCred Financial Services Limited announced that it has acquired Qbera, a leading fintech platform, from Ant Creditex Technologies Pvt. Ltd., for an undisclosed amount.

Qbera has built a strong lending platform for personal loans which offers loans to middle income salaried individuals who are typically underserved by incumbent banks & NBFCs on account of their employment with a wide range of smaller employers. These loans were offered in partnership with a range of leading financial institutions such as IndusInd Bank, RBL Bank and Fullerton, allowing the platform to offer best-in-class pricing to customers, combined with a superior customer experience.

InCred, in its own personal loan business, has developed deep capabilities across risk, analytics, technology and collections. InCred’s sharp focus on process and risk management has allowed the company to build a high-quality loan book with superior risk-reward ratios - something the institution is sharply focused on growing in the coming years. Promoting financial inclusion has also been of prime importance to InCred since its inception, through initiatives such as the provision of loans to ‘new to credit’ customers.

Through its acquisition of Qbera, InCred will look to augment its digital distribution strengths. Conversely, the platform business will also benefit from InCred’s legacy personal loans expertise and provide full-stack loan origination capabilities in risk-sharing partnerships with other leading financial institutions.  

Bhupinder Singh, Founder & CEO of InCred said that, “The Qbera acquisition importantly marks the launch of InCred’s platform business - a first of its kind for an NBFC of our size in India. We have built best-in-class risk management, technology and analytics capabilities across different asset classes like education, MSME and Consumer loans. We look to leverage them in strong partnerships with leading financial institutions in India, and abroad. We are confident of the significant value that the Qbera platform will generate as a part of the InCred Group.”

Aditya Kumar, Founder & CEO of Qbera commented on the same that, “Being a part of InCred provides Qbera critical cross-functional expertise that are essential in taking the Qbera platform to new heights. Having access to superior risk and technology capabilities will play a vital role in scaling the business, especially in a post-Covid world. We strive to achieve our common vision of building the best platform business in the coming years."

Market buzz had previously pegged the deal value at USD10-15 million.

As part of the transaction, Founder & CEO of Qbera, Aditya Kumar, has joined InCred and will continue to head the Platform business, as well as the InCred personal loan business.  Co-Founder and VP Product, Anuj Sachdev, has taken an advisory role.

About InCred

InCred is a new-age financial services group founded with the vision of providing credit to Incredible India and thus, furthering financial inclusion in the country. The company endeavours to disrupt the status quo in traditional lending that seems to exclude those most in need of credit, due to outdated, rigid and often inefficient processes. The company has designed its products with a razor-sharp focus on serving the unique needs of these under-served segments of customers and leverages technology and data-science to make lending quick, simple and hassle-free. It aspires to be the key partner for all financial requirements of an Indian family.  

About Qbera

Qbera is an online lending platform providing fast, frictionless, and fair personal loans to professionals. Launched in January 2017, the company is headquartered in and operates out of Bangalore and provides lending services through an end-to-end digital platform, enabling transfer of funds to the borrower within 24 hours of receiving the online application.It is a product of Credit Exchange, a Bangalore-based fintech startup in the consumer lending space.

With its online platform based on LendFoundry, a state-of-the-art fintech lending solution, Qbera was launched with the chief objective of addressing the growing need in the market for quick and convenient delivery of personal finance services. One of the company’s main areas of focus is providing loans to potential borrowers who are largely overlooked by banks and financial institutions.

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