Fintech unicorn Yubi unveils Accumn, to merge acquisitions FinFort and Corpository for AI-powered credit solutions

Fintech unicorn Yubi Group has announced the consolidation of its acquired entities Corpository and FinFort under a new unified identity: Accumn. This move, revealed at the Global Fintech Fest (GFF) 2024 — organised by the Payments Council of India (PCI), National Payments Corporation of India (NPCI), and Fintech Convergence Council (FCC) — marks an important step in Yubi's mission to establish a comprehensive AI-ML first credit decisioning platform.

Corpository, which Yubi acquired in April 2022, has been integral in providing advanced credit evaluation and monitoring solutions, particularly for corporate lending. The acquisition of FinFort in May 2023 further broadened Yubi's capabilities into retail credit assessment, addressing the growing complexity in credit management. According to the company, the launch of Accumn means the full integration of these capabilities into a robust, full-stack platform designed to enhance every aspect of the credit decisioning process.

At the helm of Accumn is Aniket Shah, Co-founder and former CEO of Corpository, who will lead the new platform as its CEO. Shah, a Chartered Accountant with extensive experience in market research and sectoral analysis, has been a key figure in developing products tailored to diverse business needs, the company said. Joining him are Nipam Shah as Independent Director of the Board and Gaurav Kumar, Founder and CEO of Yubi Group. 

In his new role, Aniket Shah emphasised, "Accumn is designed to meet the critical need for precise, unbiased, and data-driven credit decisioning. Accumn leverages cutting-edge machine learning (ML) and artificial intelligence (AI) technologies to provide credit managers with advanced tools that enhance the accuracy and transparency of their decisions. By integrating the strengths of Corpository and FinFort, Accumn is set to become India’s leading AI-first credit decisioning platform."

Yubi claims that Accumn will offer a comprehensive solution for all credit decisioning needs, covering the entire debt lifecycle through five key areas: credit evaluation, credit process automation, end-to-end integration, AI-driven credit decisioning, and credit monitoring. 

The platform’s use of generative AI ensures precise and efficient credit decisions along with robust monitoring, facilitating a seamless approach to credit management, the company noted further.

Since Corpository’s acquisition, the workforce has expanded from 50 to 250 employees, and the client base has increased by 140% from FY23 to FY24. Daily credit report generation has surged from 1,000 to 10,000.

As per Yubi, Corpository experienced a 400% year-on-year revenue growth in FY24. With the introduction of Accumn, Yubi Group anticipates a significant revenue boost, projecting a doubling of revenues in FY25.