Bengaluru-based Datasigns Technologies today said it has raised USD 1.5 million (around Rs 9.6 crore) in pre-series A funding from SRI Capital, Beenext and Pravega. Datasigns had earlier raised an angel funding from Sanjai Vohra (former MD of JP Morgan), V Bunty Bohra (MD and India CEO of Goldman Sachs) and Peeyush Misra (Ex-Partner and MD at Goldman Sachs). The company however did not disclose the financial details of the deal. Datasigns is a mobile first lending platform which lends via its android application Shubh Loans – a vernacular language app which builds a proprietary credit score and report for loan applicants.
“The lending business in the country is at an inflection point, our focus is on creative and responsible use of data to bring financial literacy and credit to people who deserve it the most,” said Rahul Sekhar, Co-Founder & Chief Data Scientist Shubh Loans, in a release.
Using the Shubh Loans app, users can apply for a loan of up to Rs 2 lakh with maximum 2-year tenure. Datasigns has partnered with multiple banks and NBFCs, helping them build their loan books.