With Qbera Buy, InCred Eyes Expansion In Its Distribution Strengths
Talking about the acquisition, Bhupinder Singh, founder and CEO of InCred 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.
As a part of the acquisition, Qbera’s cofounders Aditya Kumar and Anuj Sachdev have also joined InCred’s team.
Qbera was looking to use the capital raise to streamline its growth, product expansion, technology, data sciences, hiring and expansion into Tier II, III and other regions.
Keeping aside the Series B announcement, Qbera has raised $5 Mn.
On the other hand, InCred has raised more than $160 Mn across several funding rounds.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
Business loans, credit cards, and lines of credit account for about ¾ of financing for new firms.
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