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Lending startup Datasigns Technologies raises $1.5 million from SRI Capital, others

It is a vernacular language app which builds a proprietary credit score and reports for loan applicants, thereby helping them understand their credit standing

September 09, 2017 / 07:22 PM IST

Bengaluru based Datasigns Technologies on Tuesday said it has raised USD 1.5 million in a Pre-series A funding round from SRI Capital, Beenext, and Pravega.

Datasigns Technologies is a mobile first lending platform, which gives loans via their android application called Shubh Loans. It is a vernacular language app which builds a proprietary credit score and reports for loan applicants, thereby helping them understand their credit standing.

Shubh Loans score is dynamic and changes with applicant’s financial and non-financial behaviour he users can apply for a loan up to Rs 2 lakhs with a maximum of two years tenure. The company has partnered with multiple banks and NBFCs, helping them in building their loan books.


What Are Credit Scores And How Do They Work?

The company earlier raised an undisclosed amount of angel funding from Sanjay Vohra, former managing director of JP Morgan, V. Bunty Bohra managing director and chief executive officer of Goldman Sachs India, besides other high net individuals.

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Shubh Loans targets to bring over 10 lakhs people into the formal banking system.

 
first published: Sep 5, 2017 01:36 pm

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