Shubh Loans gets $4.8 million

BENGALURU: Bengaluru-based digital loan facilitating startup Shubh Loans has raised $4.8 million (Rs 34 crore) from Omidyar Network India, as part of its Series-A round of funding.

Existing investors Saama Capital, Beenext, SRI Capital and Pravega Ventures also participated in the round.

The funds will help Shubh Loans expand its customer sourcing platform, augment its technology, and grow the data science team and credit scoring platform. The company intends to incorporate features including ‘Credit Locks’ that promote good client behaviour.


It will also grow its on-ground sales team and expand distribution by end of the year. Currently, Shubh Loans has a team of 200 people with almost 50% of them in data science, technology and analytics.