[Funding alert] MyShubhLife raises Rs 100 Cr in Series B round

Datasigns Technologies Pvt Ltd, which runs the financial services platform MyShubhLife has raised Rs 100 crore in a Series B funding round from Gojo & Company, Inc.

The new capital will help the startup to increase its NBFC book and increase disbursements through its co-lending partners.

The startup plans to grow its talent pool with more corporate and larger platform partnerships to expand its footprint, invest in technology, and offer a seamless, financially inclusive program for the next half a billion.

Bengaluru-based MyShubhLife was founded in 2016 by Monish Anand and Rahul Sekar, It is a full-stack financial services platform that offers products such as small and big ticket personal loans and earned wage access.

In addition, it has expanded its portfolio to include mini and microloans, insurance, bill payments and mutual fund SIPS, among others.

“Since inception, we have focused on the first principles of lending, and given risk management due importance. This approach has also helped us in managing our credit losses during the pandemic. In the last two years, we have transformed into a full stack loan and savings company for the next half billion. This fundraise is a testimony to our business model as well as our resilience”, Said, the founders of MyShubhLife Monish Anand and Rahul Sekar.

“We are delighted to add MyShubhLife, our group’s first digital lending firm, as our ninth partner. MyShubhLife is one of the very few digital lenders in India who truly reach the underserved/unserved customer segment through its unique partnership driven “Phygital” approach. The underwriting and analytics capability they have built for this segment is second to none and we are happy to work with the team to take the next leap in its growth”, said, Sanjay Gandhi, Co-founder and Chief Investment Officer, Gojo.

Unitus Capital acted as financial advisor while Gojo was represented by Vertices Partners as its legal advisor. Saakshya Law acted as Legal Advisor to MyShubhLife.

Earlier, the fintech startup had raised around Rs 115 crore in seed and Series A funding round from many investors including Pravega Ventures, SRI Capital, Saama Capital, BeeNext, Omidyar Network, Flourish Ventures, and Patamar Capital.