Bangalore, India-based MyShubhLife raised USD 13.18 million (INR 100 crore) in the Series B funding on April 11, 2022. Gojo & Company Inc (Gojo), a global investment holding company focused on enabling technology-driven financial inclusion across emerging markets, led the funding for MyShubhLife.
MyShubhLife, formerly known as Shubh Loans, is a full-stack financial services platform operated by Datasigns Technologies Private Limited.
Vertices Partners was the legal advisor for Gojo. Whereas Unitus Capital acted as the financial advisor, Saakshya Law acted as the legal advisor to MyShubhLife.
Purpose of Funding for MyShubhLife
With the new investment, MyShubhLife will grow its NBFC book. Thereby increasing disbursements through its co-lending partners.
The financial services platform will also utilize the funds to further expand its footprint with more corporate and large platform partnerships. Besides, it will invest in technology and enlarge its talent pool to offer a financially inclusive program for the next half billion.
MyShubhLife earlier raised around USD 15 million ( INR 115 crore) from marquee Seed and Series A investors such as Pravega Ventures, SRI Capital, Saama Capital, BeeNext, Omidyar Network, Flourish Ventures and Patamar Capital.
What the founders have to say
“Since inception, we have focused on the first lending principles and given risk management importance. This approach has also helped us manage our credit losses during the pandemic. We have transformed into a full-stack loan and savings company for the next half billion in the last two years. This fundraise is a testimony to our business model as well as our resilience,” said the founders of MyShubhLife in a statement.
Monish Anand and Rahul Sekar brought the financial platform MyShubhLife into existence.
What the investor has to say
Sanjay Gandhi, Co-founder and Chief Investment Officer, Gojo, said, “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 that 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. We are happy to work with the team to take the next leap in its growth.”
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 in the Series B funding on April 11, 2022. Gojo & Company Inc (Gojo) led the funding for MyShubhLife.){kind=link}