Unicorn debt marketplace CredAvenue rebrands to Yubi

Gaurav Kumar, Founder & CEO - Yubi

Debt marketplace startup CredAvenue has rebranded itself as Yubi two years after its inception, the company said on June 22.

Founded in August 2020, CredAvenue, now Yubi, acts as a marketplace to connect enterprises to lenders and investors. It also helps businesses and lenders to access primary as well as secondary bonds.

According to the company, the new brand captures its long-term ambition of being ubiquitous in the debt ecosystem as an invisible infrastructure layer powering credit globally and ensuring frictionless access to capital.

Currently, the platform has five offerings. The first is YubiCo.Lend a co-lending platform for banks and non-banking financial institutions to discover and provide joint loans. Secondly, enterprises looking to seek loans can do so via YubiLoans on the platform and it helps manage repayments too.

The third, and the one that investors are most bullish about, is YubiInvest, a bond marketplace, to help enterprises and lenders access primary and secondary bonds.

Its fourth platform helps secure working capital and cash flow requirements for supply-chain finance called YubiSCF. Lastly, YubiPool product provides structured finance options like pass-through certificates and securitisations.

Going forward, Yubi may even evolve beyond credit in the long term. the company said.

The company turned unicorn in just 18 months after inception by raising $137 million in a Series B round that valued the firm at $1.3 billion. Yubi's investors include Insight Partners, B Capital Group, Dragoneer, TVS Capital, and Sequoia Capital, among others.

Gaurav Kumar, founder and CEO of Yubi, said, "Yubi represents the beginning of our global ambitions as we prepare to launch our first international office in UAE, successfully debuting in the MENA (Middle East and North Africa) region."

"Another reason for the brand identity change stems from our conversations with customers and other stakeholders on how technological integration because of data security concerns around financial information remains one of the key deterrents in the advancement of digital finance."

In the past six months the company has made two acquisitions. It acquired Mumbai-based Spocto Solutions, an artificial intelligence and machine learning-powered debt recovery platform, to extend an additional feature to its client banks and institutions besides providing a marketplace.

Yubi had acquired a 75.1 percent stake in Spocto Solutions at a valuation of $46 to $56 million (Rs 350-450 crore).

In April this year, the company acquired a majority stake in Corpository – a full-stack corporate credit underwriting company -- at a valuation of Rs 100 crore.