MyShubhLife (earlier“Shubh Loans”) raises USD 4 million from Singapore-based Patamar Capital and existing investors
Datasigns
Technologies Pvt. Ltd., the parent company of MyShubhLife
(earlier named “Shubh Loans”), a leading Android app in India for lending and
savings products has raised USD 4 million in a round led by Patamar Capital, a prominent impact
venture capital firm focused on backing South and Southeast Asia’s
entrepreneurs, driving positive impact at scale. The investment also saw
participation from the existing investors of Datasigns Technologies.
MyShubhLife
is a digital loans and savings company that offers products such as Loans,
Insurance, SIPs, E-Gold, and E-filing taxes to the unbanked segments in the
Next Half billion via its Android app that is available in 6 Indian languages.
“Patamar
has invested in these types of business models for over a decade. We strongly
believe that owing to technology, the time is ripe for reimagining economies
where all working-class employees have equal access to capital and financial
services. MyShubhLife has unlocked the
potential of providing financial services at scale through acquiring a deep
understanding of the behavioral patterns of India’s under-served working-class
population. We are excited to back tech entrepreneurs like Monish who have the
drive to create sustainable impact in South Asia” said Satchith Kurukulasuriya, Principal,
Patamar Capital.
Datasigns
Technologies had raised USD 4.8 million in Series A2 Funding and had received
its NBFC license from RBI in 2019.
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