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Bangalore-based Datasigns Technologies Private Limited (which operates the online facilitation of lending platform, Shubh Loans) has raised ₹34 crores from Omidyar Network India who led the round with participation from existing investors, Saama Capital, Beenext, SRI Capital, and Pravega Ventures.
Saakshya Law advised Shubh Loans and its promoters and the team was led by Partner Siddharth Raja along with Associate Monica Umesh.
Samvad Partners acted for Omidyar Network and the team was led by Neela Badami.
Founded by Monish Anand and Rahul Sekar, Shubh Loans provides personal loans to the emerging segment of underserved and new-to-credit borrowers at the lower end of the income spectrum.
Through its mobile-first app, Shubh Loans has created a proprietary platform and credit scoring model to rapidly assess and approve a borrower’s creditworthiness, reported Mint.