Yubi, the fintech unicorn previously known as CredAvenue, has announced a fresh capital infusion of Rs 250 crore from its founder and CEO, Gaurav Kumar.
Kumar, a seasoned entrepreneur and investor, co-founded Vivriti Capital in 2017 and later Vivriti Asset Management in 2019. Under his leadership, the Yubi Group has expanded significantly, now encompassing Yubi, Aspero, Spocto, Corpository, and Finfort. Originally launched as CredAvenue in 2017, Yubi operates as a comprehensive debt platform connecting enterprises with lenders and investors. The company is supported by prominent investors such as Peak XV, Lightspeed Ventures, and TVS Capital.
The start-up achieved ‘unicorn’ status in March 2022 after raising $137 million in a Series B funding round led by the US-based global private equity and venture capital firm Insight Partners, along with B Capital Group and Dragoneer, and participation from existing investors. This funding round brought the company’s post-money valuation to $1.3 billion.
Since its inception, Yubi claims to have facilitated over Rs 140,000 crore in debt, serving more than 17,000 enterprises and 6,200 investors and lenders. With a mission to expand the debt market and democratize capital flow, Yubi is working to transform the financial landscape by promoting inclusivity and creating a transparent and responsible ecosystem. In April of this year, Yubi entered into a strategic partnership with MODIFI, a Europe-based B2B fintech firm, to venture into the cross-border trade financing segment. At that time, Yubi stated that the partnership would provide Indian exporters and importers with access to secure, unsecured funding for international transactions, enabling them to enhance their business activities.
