India Digest: Fintech startups Kredent, Qbera raise funding; OBOPAY buys Mubble

Photo: Bloomberg

In multiple updates from fintech startups in India, Kolkata-based Kredent InfoEdge has received pre-Series A funding from stock market investor Ramesh Damani while digital lender Qbera has raised $3 million led by Essel Group unit E-City Ventures. Also, Bangalore-based fintech firm OBOPAY has acquired consumer technology firm Mubble.

Investor Ramesh Damani backs Kredent

Kolkata-based fintech startup Kredent InfoEdge Pvt. Ltd has received its pre-Series A funding from stock market investor Ramesh Damani, and others, it said in a statement on Friday. This is the first time Kredent InfoEdge has raised funds from external investors. Kredent InfoEdge is currently developing new products that aim to bring investment in various financial assets within the reach of the public. The company is looking at enabling informed financial decision-making based on data and decision support tools.

Qbera raises $3m led by E-City Ventures

Bengaluru-based digital lending startup Qbera has raised $3 million in a funding round led by Essel Group unit E-City Ventures, marking its first institutional financing since inception. Qbera will utilise the latest capital infusion towards ramping up its technology and analytics capabilities, along with expansion of its team across functions, scaling its business and increasing its geographical footprint. As of August, 2018, Qbera claims to have processed more than 2 lakh applications and disbursed loans worth more than Rs 50 crore.

OBOPAY buys consumer tech firm Mubble

Bangalore-based fintech firm OBOPAY on Monday announced that it has acquired consumer technology firm Mubble, which is backed by Accel Partners and Nandan Nilekani. The acquisition is part of Obopay’s long term strategy to strengthen and enhance its data analytics capabilities and mobile app expertise. Post the acquisition, Ashwin Ramaswamy, co-founder and CEO of Mubble, will be joining OBOPAY, it said in a statement.  Mubble is powered by a cloud based analytics framework and claims to have over 10 million plus users.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.