Fintech unicorn Yubi (formerly CredAvenue) announced that it has received a fresh capital infusion of ₹250 crore from its founder and CEO Gaurav Kumar.
The Board of Yubi approved this equity round in August 2024. The investment makes it one of the largest capital infusions by a founder in a technology company in recent times.
Yubi, founded as CredAvenue in 2017 by Kumar, is a debt platform that connects enterprises with lenders and investors. It is backed by the likes of Peak XV, Lightspeed Ventures, TVS Capital, among others.
Yubi Group comprises corporate debt solution platform Yubi, fixed income investment platform Aspero, end-to-end debt collection platform Spocto, credit lifecycle SaaS platform Corpository and credit analytics firm Finfort.
Yubi became India’s fastest fintech to achieve unicorn status, following a Series B fundraising round of $137 million in March 2022. This round was led by New York-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 that time grew to $1.3 billion.
The Series B round was preceded by a historic Series A round in September 2021, the largest of its kind in India’s fintech space. This round saw investments from Peak XV, Lightspeed Ventures, TVS Capital, and Lightrock, among others, solidifying Yubi’s position as a leader in the Indian debt market.
Yubi has facilitated over ₹1,40,000 crore in debt volumes and serves more than 17,000 enterprises and 6,200 investors and lenders.
A seasoned entrepreneur and investor, Kumar co-founded Vivriti Capital in 2017. In 2019, he co-founded Vivriti Asset Management.
