MyShubhLife

MyShubhLife (operated by Datasigns Technologies) is a fintech pioneer focused on democratizing credit and financial services for India’s underserved "next half billion." The company began as a digital lending platform and evolved into a full-stack financial services provider, offering loans, insurance, investments and tax solutions. MyShubhLife targets salaried professionals, gig workers and MSMEs, serving over 200,000 borrowers across 2,000+ towns and cities.

Core Products and Services

• Personal Loans: Unsecured loans (₹3,000–₹2 lakh) for medical emergencies, education, and emergencies.

• Earned Wage Access (EWA): Early salary access for employees of partner corporates.

• Chota Loans: Small-ticket loans (₹3,000–₹50,000) for gig workers and merchants.

• Investments: Mutual fund SIPs (from ₹100/month), eGold, and tax-saving instruments.

• Insurance: Affordable group covers (hospicash, critical illness).

• SaaS Platform: API-driven loan management, KYC, and debt collection tools for lenders.

Key milestones

• 2019: Secured NBFC license (Ekagrata Finance) and pivoted to embedded finance.

• 2022: Raised $13.2 million (₹100 crore) in Series B funding led by Gojo & Company.

• 2024: Acquired by Ugro Capital for ₹45 crore ($5.4 million) to bolster MSME lending.

• Product expansion: Launched SaaS-based Fintech Operating System (2022) and earned wage access (EWA) solutions.

Business Model & Revenue Streams

Revenue streams:

• Interest Income (60% of FY23 revenue): From loans disbursed via its NBFC arm.

• Partnership Commissions (25%): Fees from embedded finance deals with corporates (e.g., Airtel, Pine Labs).

• SaaS Subscriptions (15%): Licensing its fintech OS to lenders and financial institutions.

Geographic split:

• Tier II/III Cities (70%): Focus on MSMEs and informal workers in Uttar Pradesh, Gujarat, and Karnataka.

• Metros (30%): Salaried professionals and gig workers in Bengaluru, Mumbai, Delhi.

Customer segmentation

• B2B (40%): Partnerships with 50+ corporates, HRMS platforms, and digital networks.

• B2C (60%): Direct users via Android app (available in six Indian languages).

Top Clients & Partnerships

• PayNearby: Embedded credit for 500,000+ retailers via its DaaS network.

• Gojo & Company: Anchor investor providing growth capital and strategic guidance.

• Airtel Payments Bank: Co-lending for merchant loans and bill payments.

• Pine Labs: Integration for POS-based lending.

• Shubh Saathi Corporate Partners: Employee benefit programs for 100+ companies.

Future Outlook & Strategic Priorities

• MSME Focus: Target ₹550 crore in loan disbursals by FY25, up from ₹250 crore in FY23.

• Tech Investment: Scale AI/ML models for real-time underwriting and fraud detection.

• Geographic Expansion: Penetrate East India (Odisha, West Bengal) via Ugro’s network.

• Regulatory Scrutiny: RBI guidelines on digital lending and data privacy compliance.