Personal loan provider Qbera has reportedly raised $3m in a funding round from E-City Ventures.
This investment will enable the company to support its growth over coming years, according to a report by FinTech Futures.
Qbera is an Indian-based FinTech startup which provides consumers access to personal loans from INR 50,000 to 2.5m ($687 – $34,390). Loan products available through the platform are personal loans for salaried and self-employed individuals, and credit cards – a referral program is also available to help users earn cash.
The platform supports employees of more than 70,000 companies across India to get loans, with capital available within eight hours, according to the company.
Through the solution users can access a range of different RBL credit cards, each offering different perks such as reward points, cinema discounts and others.
Late last year, E-City Ventures took part in the $8m funding round of fellow Indian FinTech company KrazyBee. The company s an e-commerce shopping platform which helps students with online shopping, by offering a range of payment plans.
India has seen a number of FinTech Deals to close this month alone. Last week, Kissht, a platform which provides consumers with access to credit at the point-of-sale raised $30m in its Series C.
Prior to this, India-based Satya MicroCapital netted a $4.7m investment to support the growth of the micro-lending company.
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