Fintech unicorn Yubi (formerly CredAvenue) announced that it has received a fresh capital infusion of Rs 250 crore from its founder and CEO Gaurav Kumar.
A seasoned entrepreneur and investor, Kumar co-founded Vivriti Capital in 2017. In 2019, he co-founded Vivriti Asset Management. Under his leadership, the Yubi Group claims to have grown into a formidable entity comprising Yubi, Aspero, Spocto, Corpository, and Finfort.
Yubi was launched in 2017 as CredAvenue. It is an end-to-end debt platform which connects enterprises with lenders and investors. It is backed by the likes of Peak XV, Lightspeed Ventures, TVS Capital, among others.
The start-up gained ‘unicorn’ status after bagging $137 million funding in Series B round, in March 2022. This round was led by the US-based global private equity and venture capital firm Insight Partners, along with B Capital Group and Dragoneer, with participation from existing investors. The company’s post-money valuation at the time grew to $1.3 billion.
Since inception, the start-up claims to have facilitated over Rs 140,000 crore debt, serving more than 17,000 enterprises and 6,200 investors and lenders. With a mission to deepen the debt market and democratise capital flow, Yubi is transforming the financial landscape, fostering inclusivity, and building a transparent and responsible ecosystem for all.
In April this year, the unicorn signed a strategic partnership with MODIFI, a Europe-based B2B fintech firm to enter cross-border trade financing segment. Back then, Yubi said that the partnership would offer Indian exporters and importers access to secure, uncollateralised funding for international transactions, which in turn would equip them with the necessary financial support to bolster their business engagements.