Kubera - Case Study 3
March 5, 2009 – 7:32 am | by ChristianWho are they?
Kubera is in the process of preparing for launch in the UK. The founders are London based and are undergoing registration with the FSA.
What do they do?
Kubera Money is a platform enabling users to empower themselves by creating their own ‘mini-bank’, putting them directly in control of generating a return on their savings and the rate at which they borrow. By selecting others that they know and trust to join their ‘mini-bank’, users are able create a community that can sustain itself, meeting all its financial needs.
This model is an adaptation of Rotational Savings and Credit Associations (ROSCAs). A ROSCA is an informal microfinance group of individuals who save and borrow together. During the life of the ROSCA, each member makes a regular contribution of the same amount. At an agreed interval, one member then takes the whole sum once. As a result, each member is able to access a larger sum of money during the life of the ROSCA, and use it for whatever purpose she or he wishes.
Business model
Not having launched as yet, the people behind Kubera are reluctant to share the details of their business model.
