Fintech firm MyShubhLife raised Rs 100 crore in a Series B round

• ByStartupStory     |    April 11, 2022

Bengaluru-based Gojo & Company, Inc (Gojo), a worldwide investment holding company focusing on supporting technology-driven financial inclusion across emerging economies, has invested Rs 100 crore in MyShubhLife, a full stack financial services platform by Datasigns Technologies Private Limited. 

The startup intends to use the new funds to extend its footprint by forming additional corporate and major platform partnerships, invest in technology, and hire more people. The new investment would help MyShubhLife expand its NBFC book and increase disbursements through its co-lending partners, according to the official announcement.

MyShubhLife is founded by Monish Anand and Rahul Sekar in 2016. The Reserve Bank of India (RBI) granted its parent company Datasigns Technologies an NBFC license in 2019.MyShubhLife is a full-stack financial services platform that provides small and large-ticket personal loans, as well as access to earned wages. Its portfolio has grown to include mini and microloans, insurance, bill payments, and mutual fund SIPS, among other services.

In October 2019, Shubh Loans had raised $4.8 Mn in Series A round led by Omidyar Network India, along with its existing investors, including Saama Capital, BEENEXT, SRI Capital and Pravega Ventures. Before this, it had also raised $4.2 Mn funding in August 2018. With its latest funding round, the company has raised a total of $14.5 Mn across multiple rounds

Pravega Ventures, SRI Capital, Saama Capital, BeeNext, Omidyar Network, Flourish Ventures, and Patamar Capital had previously invested roughly Rs 115 crore in MyShubhLife. Vertices Partners acted as Gojo’s legal representative. MyShubhLife’s financial advisor was Unitus Capital, and its legal advisor was Saakshya Law.

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