InCred acquires fintech platform Qbera
Digital lender InCred has acquired fintech platform Qbera, at a time when companies in the space are gearing up for a year starved of capital and possible consolidation due to the Covid-19 pandemic.

InCred and Qbera, both, declined to comment on the specifics of the acquisition, including the deal value, but sources pegged it at $10-$15 million.

The acquisition will help InCred increase its distribution reach while also leveraging on Qbera’s existing partnerships to co-originate loans and expand its portfolio of consumer loans, a top company executive told ET.

InCred, which is registered as a non-banking finance company (NBFC) with a licence from the Reserve Bank of India, has a loan-book size of about Rs 2,100 crore.

Qbera is a fintech platform that disburses loans to salaried individuals through various lending partnerships including with RBL Bank, IndusInd Bank and non-bank lender Fullerton. The platform business specialises in quick disbursement of sanctioned credit.

“Through its acquisition of Qbera, InCred will look to augment its digital distribution strengths,” InCred said in a statement. “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.”

As part of the transaction, Aditya Kumar, the founder and CEO of Qbera, has joined InCred and will continue to head the platform business. Co-founder and VP-Product, Anuj Sachdev, has taken on an advisory role.

Qbera’s team will also join InCred’s operation in various capacities, a spokesperson said.

“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,” said Bhupinder Singh, founder and CFO of InCred. “We look to leverage them in strong partnerships with leading financial institutions in India, and abroad.”





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