Press Release

MyShubhLife to offer Digital Credit to 135Mn MobiKwik users

MyShubhLife, India’s largest digital lending and full-stack financial service platform and India’s leading fintech, MobiKwik have partnered to offer Digital Credit at a nominal rate of interest, with a frictionless experience to MobiKwik customers. With the technology-led partnership, MyShubhLife aims to disburse loans to millions of MobiKwik customers.


The partnership will work towards enhancing the shared goals of the two organizations, which are committed to enabling financial inclusiveness and the economic well-being of retail customers. MobiKwik today has 135 million registered users who can make payments for all their daily life needs, including utility bills, eCommerce shopping, food delivery, and shopping at large retail chains, mom & pop (kirana) stores, etc. across a 3.7 million strong merchant network. Through this partnership MyShubhLife is enabled to serve an important segment of underserved customers with formal credit. Both MobiKwik and MyShubhLife are committed to meeting the customer’s unmet credit needs and giving them a hassle-free, digital borrowing experience.


Speaking on the partnership, Monish Anand, CEO, MyShubhLife said, “Financial inclusion is a key focus area for us. By providing accessible and responsible credit to the underserved segment our partnership with MobiKwik will further our effort to democratize credit in India. We are looking forward to tap into MobiKwik’s rich customer network to fulfil the dream of a financially inclusive India. We are excited about the possibilities of this alliance.”


“The current state of digital credit in India is still in its nascent stages with just 3 to 4 % penetration. Our partnership with MyShubhLife is a step towards fulfilling our vision of bringing digital credit to a billion phones and creating a more inclusive financial system in India. Together, we are committed to leveraging our technology and expertise to bridge the gap between credit seekers and lenders, and empower individuals and small businesses with the financial tools they need to succeed in today’s digital economy,” said Upasana Taku, Co-Founder & COO, MobiKwik on the partnership.


MyShubhLife has an innovative and robust technology platform using advanced analytics, AI and machine learning built by its Datasciences Centre of Excellence (CoE), to score thin credit files and create simple and efficient micro-lending experiences for its customers, enabling them to secure loans at the click of a button.


Apart from the credit solutions, MyShubhLife has built a complete range of sachet sized financial products such as SIPs, E Gold, Insurance, Bill Payments, E filing taxes etc to provide more contextual offerings to its customers, the next half billion segment.


About MyShubhLife

MyShubhLife (formerly Shubh Loans – a product of Datasigns Technologies Private Limited) is a game- changer that revolutionised the banking sector by building a dynamic system that made it possible to cater to the unserved and underserved market segments, leveraging the latest in technology and innovation. It has now evolved into a full-stack financial services platform that offers products such as small and large-ticket personal Loans & Earned Wage access. As India’s next-generation digital lending and savings platform, the firm seeks to harness technology to design and provide contextual financial products for the next half-billion people, eventually transitioning into a full stack digital bank by 2026.

With over 4 million downloads, the MyShubhLife app has a massive 475,000 plus users who have received credit scores. Having a presence in over 40 cities, the company has facilitated cumulative loan disbursements to over 45 Lakh+ customers and has generated above 20 lakh credit reports. My Shubh Life has its sights set on bringing millions of people into the formal banking system in the future.

MyShubhLife just secured INR 100 crores in funding from Gojo & Firm, Inc., a worldwide investment holding company focusing on facilitating technology-driven financial inclusion in emerging economies. Pravega Ventures, SRI Capital, Saama Capital, BeeNext, Omidyar Network, Flourish Ventures, and Patamar Capital had previously invested around INR 115 crores in MyShubhLife.

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