Fintech unicorn CredAvenue rebrands as Yubi
Online debt marketplace, which turned a unicorn earlier this year, has rebranded itself as Yubi as it gears up for international expansion.
The overhaul to Yubi will reflect in the startup’s website, social media handles, and existing product lines. It has partnered with global branding company venturethree for the revamp.
“Yubi represents the beginning of our global ambitions as we prepare to launch our first international office in UAE, successfully debuting in the MENA (the Middle East and North Africa) region,” said Gaurav Kumar, Founder and CEO of Yubi.
The fintech startup was founded in August 2020 by Gaurav and Vineet Sukumar as a subsidiary of the financial services marketplace Vivriti Capital. Yubi entered India’s coveted unicorn club in March 2022 after it raised $137 million in a Series B, after which it was valued at $1.3 billion.
It acquired majority stakes in Corpository, a corporate credit underwriting company, for Rs 100 crore in April and Spocto Solutions, a debt-recovery platform for Rs 400 crore.
“As we expanded our product offerings, organically and inorganically, we understood the need for a simple brand architecture that reflects our long-term vision,” said Karanpreet Bindra, Chief Marketing Officer. “With Yubi, we are reiterating our brand principles of exercising the freedom to collaborate while showcasing the utmost transparency and equitability.
Yubi has rebranded its offerings into five rechristened platforms: loan platform YubiLoans, co-lending solution YubiCo.Lend, bond platform YubiInvest, supply chain platform YubiFlow and pool platform YubiPools.
It is also working to launch YubiBuild, a real estate and infrastructure vertical, in the near future.
The Chennai-based company works with over 3,000 corporates and 750+ lenders on its platform. It has a loanbook of over Rs 90,000 crore.
Yubi is backed by investors including Insight Partners, B Capital Group, Dragoneer Investment Group, Sequoia Capital, Lightspeed Ventures, TVS Capital and Lightrock.