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Bengaluru-based Datasigns Technologies Pvt. Ltd that runs the fintech platform ShubhLoans has secured an undisclosed amount of angel funding. The round was led by Sanjai Vohra, (former MD of JP Morgan) and V. Bunty Bohra (Managing Director and India CEO on Goldman Sachs).
Monish Anand, CEO of Datasigns Technologies said, “Everyone deserves access to the right amount of credit and this is exactly what we strive to do through our mobile first platform – ShubhLoans. Our innovative credit scoring model debunks old ways of lending and ensures optimal credit by holistically assessing overall risk.”
Founded in 2016 by Anand Barua and Monish Anand, Datasigns is a risk platform that forges traditional & non-traditional data to facilitate financial services to those outside the formal system. It helps financial organisations access new and underserved market.
It aims to democratise credit and make it available to all. Datasigns works on behalf of both borrowers and institutional lenders. The mobile application “ShubhLoans” helps borrowers generate proprietary individual credit score using traditional and secondary data points. Datasigns lending partners use this credit score for lending.
The credit score generated by Datasigns is dynamic and changes with the borrower’s behaviour and financials. The ShubhLoans app is digitised end-to-end and offers a paperless loan experience.
Earlier in April 2016, Mumbai-based peer-to-peer lending platform LenDenClub raised an undisclosed amount of angel investment through Venture Catalysts, a seed investment and innovation platform. Investors that participated in this round include Anirudh Damani, Daud Ali, Narendra Karnavat, Vikas Kapoor, Vikram Lakhotia, Krishna Jhunjhunwaala, and Jayesh Shah.
Other startups in this segment include KountMoney, Faircent.com, LoanCircle, Capzest, Loanzen, etc.
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