Partners with RBL Bank to issue personal loans worth ₹150 crore across top 13 markets by December 2017

Bengaluru, March 22:  

Fintech lending start-up Qbera, which offers personal loans to salaried professionals who earn a net of at least ₹20,000 a month, has launched its operations in Bengaluru.

The start-up has partnered with RBL Bank to disburse ₹150 crore worth of personal loans, without collaterals, to the under-served segment of salaried professionals across the top 13 markets in India by the year end.

The start-up, which has raised half-a-million dollars of seed funding from six angel investors, plans to expand operations to Chennai, Hyderabad, Mumbai, and Delhi-NCR by April, and reach a total of 10 cities by December. Qbera founder and CEO Aditya Kumar said: “With our partnership with RBL Bank, we intend to include segments, which have been excluded from unsecured lending by a majority of the existing players.”

Kumar said the current team of 26 employees will double over the next 12 months.

(This article was published on March 22, 2017)

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