Shubh Loans looks at crossing $20 million AUM in 2018-19

Mobile-only lending app Shubh Loans aims to cross a value of 20 million dollars of assets under management in 2018-19, positioning the startup on a growth trajectory that is four times its current level, the company said in a release.

The app that completed its first year saw 4.5 lakh downloads in 2017-18 and generated over 3 lakh Shubh Loan credit reports for loan approvals.

Present in 11 cities including Bengaluru, Delhi NCR, Hyderabad, Chennai, Mumbai and others; Shubh Loans also has plans to expand in Tier II and III cities in the coming year.


"Technology is a great leveller and it's truly successful if it can impact majority of people," Monish Anand, founder of Shubh Loans said.

Bangalore-based Shubh Loans is a vernacular app that helps salaried employees (earning up to Rs 12,000) in getting a loan of up to Rs 5 lakh with a long term EMI tenure of up to 4 years.

The app is backed by angel funding from former JP Morgan, Goldman Sachs managing directors.