CredAvenue which is the country’s largest platform for debt has just come out to announce that the company has rebranded itself and will be called Yubi from now on.
According to the company, the new name captures the company’s goals and aesthetics in a much better manner as they are looking to be a household name in the debt sector all over the world. The company sees themselves as a platform in the fintech world where people across the globe have access to credit and get capital without any friction or hassle.
Yubi is a platform that connects companies to capital lenders and investors. This platform allows companies to receive crucial funds to help them stay afloat or keep on growing. The company was founded 2 years ago back in 2020 and it is based in Chennai, Tamil Nadu.
The company offers 5 different types of borrowings currently:
1. YubiLoans
India’s largest corporate loan marketplace for enterprises and banks, offering a seamless
digital experience that accelerates the loan process from origination to disbursal five times faster.
2. YubiCo.Lend:
Largest co-lending platform in India, trusted by the lending ecosystem to discover, go
live and collaborate with multiple partners with quick one-time API integration.
3. YubiInvest
India’s leading Fixed Income Investment platform for bond issuance and investment for
institutional and retail investors.
4. YubiFlow:
A fully integrated & easy-to-use supply chain finance platform that offers trade financing
solutions to lenders and corporates to strengthen their channel partner ecosystem.
5. YubiPools:
End-to-end securitisation management system for Banks & NBFCs that brings unparalleled
efficiencies and a data-driven approach to ABS deal-making.
The company’s spokes people have also said that the firm might expand and do much more than credit based services.
Even though the company was founded in just 2020, they were able to attain the status of the unicorn in the first half of 2021 when they raised funds amounting to $ 137 million USD which in turn placed the company’s value at around $ 1.3 billion USD. This is one of the fastest that a start-up company turned in to a unicorn in the country.
The founder and CEO of the company, Mr. Gaurav Kumar said that Yubi aligns much better with their international aims as they are gearing up to launch their first ever international office somewhere in the United Arab Emirates. The company plans to get into the Middle Eastern and North Africa area first in their journey of global leaders in the fintech space.
Yubi seems like they are on the verge of global dominance and it is only a matter of time they become a household name internationally.
