Yubi's Gaurav Kumar invests Rs 250 Cr in board-approved capital infusion
Yubi offers end-to-end debt lifecycle management products, serving over 17,000 enterprises and 6,200 investors and lenders.
Gaurav Kumar, Founder of , an end-to-end debt lifecycle company, has announced a board-approved equity capital infusion of Rs 250 crore in the company.
Kumar comes with 18 years of experience in the Indian debt and fintech space. He previously co-founded Vivriti Capital in 2017 and Vivriti Asset Management in 2019. He founded Yubi Group in 2020, which has various entities, Yubi, Aspero, Spocto, Corpository, and Finfort.
The fintech unicorn Yubi provides end-to-end debt lifecycle management products, serving over 17,000 enterprises and 6,200 investors and lenders. It claims its services result in a 57% reduction in collections costs.
It secured a $137 million Series B funding round in March 2022 at a post-money valuation of $1.3 billion. The round was led by Insight Partners, B Capital Group, and Dragoneer.
The company is backed by prominent investors, including Peak XV, , Lightrock, , B Capital Group, Dragoneer Investment Group, and , among others.
Yubi Group, formerly CredAvenue, recently announced several key appointments across its companies.
Bharat Krishnamurthy was promoted to Chief Technology Officer of both Yubi and Aspero. Ramesh Ramanathan is now the Group's Deputy Chief Financial Officer. MC Anand Narayanan was appointed Chief Product Officer for Yubi and Corpository, while Amitesh Bhattacharya took on the role of Group General Counsel.
(Disclaimer: This story has been updated to correct error.)
Edited by Kanishk Singh