Startup Capital and You Funding via Personal Loans

Fintech start-up Shubh Loans on Tuesday said it has received a licence from the Reserve Bank of India to set up a non-banking financial company.

The company said the licence has been received through the subsidiary — Ekagrata — of its parent company Datasigns Technologies.

Shubh Loans said it has already raised series A2 funding of Rs 34 crore (USD 4.8 million) from Omidyar Network India.

Shubh Loans, which is fast changing the way loans are disbursed and making credit accessibility easier, is set to implement NBFC compliant frameworks and governance processes, it said in a release.

Shubh Loans Chief Executive Officer and founder Monish Anand said, “Our customers have a lot to benefit from the new status given by the RBI. The NBFC certification is a shot in the arm that will us to serve more under-served segments, enable co-lending with our partners, and also help in optimizing our borrowing rates.” PTI KPM

Like this content? Sign up for our daily newsletter to get latest updates.

RELATED READING  Fusion Microfinance Raises ₹ 500 Cr led by Warburg Pincus, Creation Investments

Reality Gaming Group set to Drive AR & Blockchain Games via £1.5m Fundraising

Previous article

VC Firm Accel to Raise $600 – $700 Mn for its 6th India Fund

Next article



This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like