MyShubhLife sets target to disburse Rs 550 crore worth of loans by the next fiscal year

MyShubhLife, digital lending and full-stack financial service platform, has announced that it aims to disburse Rs 550 crore worth of loans amid signs of economic recovery and pent-up demand among the salaried professionals, gig workers and small merchants. Equipped with an AI/ML led credit model algorithm built by its Datasciences Centre of Excellence (CoE), MyShubhLife aims to reach a disbursal target of Rs 250+ crore by this financial year and Rs 550 crore in the next.
Starting in 2016, MyShubhLife claims to have disbursed loans to a large number of borrowers by focusing on data driven technology and offering customized financial solutions. The company’s portfolio includes Unsecured Personal Loans, Chota Loans (small ticket), Earned Wage Access (EWA) & Revolving Line of Credit to fulfil the financial needs of the salaried and self-employed (gig workers, merchants of small and medium businesses etc). Users can avail loans between Rs 3,000-2 lakhs with a repayment tenure up to 36 months.
Monish Anand, CEO, MyShubhLife, said, “The pandemic has highlighted the significance of giving simple access to credit to the underprivileged as well as professionals to boost overall economic growth. Offering credit to our clients dramatically improves MyShubhLife product offerings while accelerating our growth pace. Our consumers are now even more empowered to use finance to make their aspirations a reality.”