Qbera begins next phase of expansion in Mumbai

Qbera, a fin-tech start-up offering personal loans has announced the launch of its operations in Mumbai as the digital platform facilitates access to funds for salaried individuals through an application process for unsecured loans, providing instant approval and quick loan disbursals.

Unlike traditional banks and NBFCs that focus on lending to employees of certain target companies, Qbera offers personal loans to salaried employees of more than seven lakh companies.

"Qbera focuses onserving salaried individuals working for over seven lakh employers in these geographies who face serious challenges in availing unsecured personal loans," said founder and CEO Qbera, Aditya Kumar.

Since its launch in February, the platform has received over 30 thousand personal loan applications and disbursed over rupees five crore of loans through its partner, RBL Bank.

"The response we have received in existing markets so far has been extremely positive. With future expansions planned across the country, we are getting closer to our goal of disbursing loans worth Rs. 100 crore in the financial year 2017-18," added Kumar.

However, Qbera plans to expand its operations to a total of 12 cities including Pune, Hyderabad, Kolkata, Cochin, Ahmedabad, Jaipur, Coimbatore and Indore by December.