Datasigns Technologies Raises Angel Round From Senior Bankers
Datasigns Technologies Pvt. Ltd., a mobile-first financial technology start-up has secured an undisclosed amount of angel funding. The investment round was led by Sanjay Vohra, formerly a Managing Director with JP Morgan and UBS and V. Bunty Bohra, Managing Director and India CEO with a large global investment bank.
At $1.2 trillion, India is estimated to be one of the largest markets for consumer finance in the world, behind USA and China. It is also one of the least evolved markets for lending, with close to 70 per cent of the market being underserved by institutional lenders. According to a report by international philanthropic investment firm Omidyar Network, over 400 million people borrowed money in India in 2014, but fewer than one in seven were approved for a formal loan.
Datasigns work on behalf of both borrowers and Institutional lenders. Their mobile application “Shubhloans” helps borrowers generates proprietary individual credit score using traditional and secondary data points. Datasigns lending partners use this credit score for lending.
The credit score generated is dynamic and changes with the borrower’s behavior and financials. The “SHUBHLOANS” app is the digitized end and to end and offers a paperless loan experience.
Monish Anand, CEO of Datasigns Technologies
Monish Anand, CEO of Datasigns Technologies said that Everyone deserves access to the right amount of credit, and this is exactly what they strive to do through mobile-first platform – Shubhloans.
Their innovative credit scoring model debunks old ways of lending and ensures optimal credit by holistically assessing overall risk.
Founded by bankers, technologists, and data scientists; Datasigns has begun operations in Bangalore and has received an overwhelming response from the market.
About Datasigns technologies:
Established in 2016, Datasigns Technologies is bridging the need gap between the unserved / underserved and lenders. It aims to democratize credit and make it available to all. Datasigns technology platform is transforming consumer financial services. They help loan companies to make smarter credit decisions and to expand the availability of fair and transparent credit.