Bengaluru-based MyShubhLife (a product of Datasigns Technologies Private Limited), the full stack financial services platform has closed a funding of INR 100 crores from Gojo & Company, Inc. (Gojo), a global investment holding company focused on enabling technology-driven financial inclusion across emerging markets. The fresh investment will help MyShubhLife grow its NBFC book and increase disbursements through its co-lending partners.
MyShubhLife will utilize the funds to further expand its footprint with more corporate and large platform partnerships, invest in technology and enlarge its talent pool to offer a seamless, financially inclusive program for the next half billion.
In a joint statement, the founders of MyShubhLife Monish Anand and Rahul Sekar said, “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 2 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.
We are excited to work with a visionary social impact-focused investor, passionate about using technology to scale impactful partnerships like Gojo.”
“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 & Chief Investment Officer, Gojo.
Gojo was represented by Vertices Partners as its legal advisor. Unitus Capital acted as the financial advisor while Saakshya Law acted as legal advisor to MyShubhLife.
MyShubhLife had earlier raised around INR 115 crores from marquee Seed and Series A investors like Pravega Ventures, SRI Capital, Saama Capital, BeeNext, Omidyar Network, Flourish Ventures and Patamar Capital.