27 August 2018, India:
Digital lending platform Shubh Loans has raised $4.2 million in fresh round of funding. The funding round was led by Venture Capital firm Saama Capital. Existing investors SRI Capital, Beenext and Pravega Ventures participated in the funding round.
The startup will use the fresh capital for expanding its customer sourcing platform. It will also invest more in strengthening its technology and credit scoring platform, the startup said in a statement.
“Shubh Loans has always been focused on chartering growth that is sustainable. Fortunately, we have been hitting the right milestones in our journey. Saama Capital has always been at the forefront of investing in FinTech. Their investment in Shubh Loans will strengthen our collective knowledge and expertise in the industry. We are looking forward to a partnership that will propel Shubh Loans to the frontlines of creating a positive impact in the society,” said Monish Anand, Founder & CEO, Shubh Loans.
“We are excited about partnering with Monish and the rest of the team at Shubh Loans. We believe that the leadership team’s deep and relevant experience is a strength and a strong differentiator. In addition, Shubh Loans’ unique customer focus and technology-intensive processing will help the company best maximise the large untapped potential. We look forward to working with the company as it grows its team, expands it product offering and customer base,” said Kiranbir Nag, Partner at Saama Capital.
Shubh Loans was founded by Monish Anand, Rahul Sekar, Anand Barua, and Tushar Patel in 2016. It help financial service providers to access and serve new and underserved market segments.
(Image – Shubh Loans)