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Omidyar Network India has led a ₹34-crore Series A2 round in Bengaluru-based Datasigns Technologies Pvt Ltd, which runs the mobile-first lending app Shubh Loans. Existing investors Saama Capital, Beenext, SRI Capital and Pravega Ventures participated in this round.
The company will use the money to expand its customer sourcing platform to include new features, increase its sales team and expand distribution to nearly 40 cities by the year-end. Founded by Monish Anand and Rahul Sekar, Shubh Loans provides personal loans to the emerging segment of under-served and new-to-credit borrowers at the lower end of the income segment.
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