The Board of Yubi has approved this equity round in August 2024, wherein Gaurav Kumar will invest up to INR 250 crore, marking one of the largest capital infusions by a founder in a technology company in recent times.
FinTech BizNews Service
Mumbai, August 26, 2024: Yubi (CredAvenue Private Limited), the world’s only technology company powering the end-to-end debt lifecycle, today announced a significant equity capital infusion by its Founder and CEO, Gaurav Kumar. The Board of Yubi has approved this equity round in August 2024, wherein Gaurav Kumar will invest up to INR 250 crore, marking one of the largest capital infusions by a founder in a technology company in recent times. This capital infusion reflects his enduring commitment to Yubi's clients and its mission to shape India's financial landscape.
Gaurav Kumar is a seasoned entrepreneur with over 18 years of experience in the Indian debt and financial technology market. A serial entrepreneur, Gaurav co-founded Vivriti Capital in 2017, which has since become one of the premier NBFCs (Non-Banking Financial Companies) in India. In 2019, he co-founded Vivriti Asset Management, followed by Yubi Group's founding in 2020. Under Gaurav’s leadership, the Yubi Group has grown into a formidable entity comprising Yubi, Aspero, Spocto, Corpository and Finfort.
Yubi’s remarkable journey began in 2020, and within just two years, it 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, serves more than 17,000 enterprises and 6,200 investors & lenders. Yubi’s technology infrastructure, risk evaluation, and collections platforms support every stage of the credit lifecycle. The company’s vision of transforming the financial landscape through innovation, inclusivity, and transparency continues to drive its success and impact.
