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.