MyShubhLife Company Research Report

Company Overview

• Name: MyShubhLife

• Mission: Leveraging technology to build and deliver contextual financial products for the Next Half Billion people and transform into a full-stack digital bank by 2026.

• Founded: Established in 2016, originally under the brand name "Shubh Loans."

• Founders: Monish Anand (CEO & Founder) and Rahul Sekar (CTO & Co-Founder).

• Key People:

• Monish Anand - CEO & Founder

• Rahul Sekar - CTO & Co-Founder

• Manoj Sharma - Chief Business Officer

• Abhishek R. - Chief Risk Officer

• Venkatesh Madyastha - Chief Data Scientist

• Shiju Thomas - VP - Collections

• Headquarters: NOVA MILLER, 333. Thimmiah Road, Vasanth Nagar, Bangalore - 560052, India.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known for: MyShubhLife is recognized as India's next-generation digital lending platform specializing in credit scoring and financial services for the underserved segment of the population.

Products

Lending and Financial Services

• MSME Loans:

• Daily Revolving Working Capital Loans: Designed for businesses requiring consistent cash flow.

• Short-term Working Capital Loans: 90-day tenure with EDI/EWI repayment options.

• Working Capital Term Loans: Flexible repayment schedules of 3, 6, 9, and 12 months.

• Personal Loans:

• Description: Loans for various personal needs such as emergencies, education, and more.

• Key Features:

• Loan amount ranging from ₹15,000 to ₹5,00,000.

• Tenure: 3 to 36 months.

• Interest rates: 24% – 32% per annum.

• Repayment options include auto debit, wallet debit, repayment link, and bank transfer.

• Shubh Now

• A Salary on-demand product available for workforce through WhatsApp.

Additional Financial Services

• Insurance

• Mutual Funds

• E-Gold

• E-Tax Filing Service

Key Features of MyShubhLife Products

• Compliance: Adheres to the latest RBI and SEBI guidelines.

• Plug and Play Model: Seamless API model enabling easy integration.

• Smart Underwriting: Employs data science-driven risk analysis for credit decision-making.

• Data Security: Ensures safe and secure data management.

• Multi-language Support: Offers application and process in local languages enhancing accessibility.

Recent Developments

• Partnerships and Collaborations:

• Spice Money (May 2023): To offer credit solutions to over 10 lakh merchants in rural India.

• EasyPay (February 2023): To deliver a line of credit to its merchant customers.

• MobiKwik (January 2023): Providing digital credit services to 135 million users.

• Repute (October 2022): For offering financial solutions to the workforce through an open digital ecosystem.

• Technological Innovations:

• Next-Gen SaaS-based Fintech Platform (December 2022): An integrated platform facilitating digital lending with modules in digital identity, KYC, and loan management.

• Financial Milestones:

• Series B Funding (April 2022): Secured Rs 100 crore from Gojo & Company Inc to enhance technology and expand partnerships.

• Series A Funding (February 2021): Raised $4 million from Patamar Capital and other investors.

Strategic Goals

• Aim to transform into a full-stack digital bank by 2026.

• Plan to grow lending API infrastructure, projecting it to comprise 50% of total revenue within a year.

Conclusion

MyShubhLife, through its robust technological infrastructure and strategic collaborations, is positioned as a pioneer in democratizing credit for India’s largely underserved populations. By capitalizing on advancements in data sciences and AI-driven financial products, MyShubhLife is driving meaningful financial inclusion and empowering the Next Half Billion segment.