CredAvenue rebrands itself as Yubi

Fintech Unicorn CredAvenue has rebranded itself as Yubi as the company aims to expand globally and improve its product portfolio.

Yubi, formerly known as CredAvenue, is a debt marketplace startup that started operations in 2020 with only 8 employees. When CredAvenue was formed, it catered to different types of capital requirements: securitization, bonds, co-lending, supply chain, and loans. The company hit $5 billion in transaction volume in the first year itself.

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The company raised $137 million in March 2022, making it India's fastest growing fintech platform, at a valuation of $1.3 billion. This round of funding was led by Insight Partners, B Capital Group, and Dragoneer. Alongside these investors, the company also has Sequoia, Lightspeed, Light rock, and TVS Capital Funds as marquee investors.

Currently, the company has 5 main products: YubiCo.lend (Co-lending partnerships for banks and NBFCs), YubiLoans (Term lending and working capital solutions), YubiPool (End-to-end securitization and portfolio buyouts), YubiInvest (Bond Issuance and investment for institutional and retail participants) and YubiFlow (Trade financing solutions).

According to the company, the new brand name will be reflected in every customer touchpoint, its products, website, and social media. The company said that the name change was necessitated by the exponential growth they have seen.

The company is planning to launch its first international office in the UAE and debut in the MENA region. The company is also said to be considering launching YubiBuild, its own infrastructure and real estate vertical.

“This is an exciting transformation and a solid foundation for the constantly evolving nature of our business. Yubi represents the beginning of our global ambitions as we prepare to launch our first international office in UAE, successfully debuting in the MENA region,” said Gaurav Kumar, Founder, and CEO of Yubi.

Article by Aman Agarwal.

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