Yubi founder and CEO Gaurav Kumar said that the startup will look to raise fresh capital in the range of $150 Mn to $200 Mn in the first quarter of next year

The fresh funds will help fuel its expansion into the MENA region as well as help acquire more businesses

Yubi managed to trim its net loss by over 22% to INR 395.8 Cr in the financial year 2023-24 (FY24) from INR 509.8 Cr in the previous fiscal year

About three months after its founder infused INR 250 Cr (about $30 Mn), digital lending unicorn Yubi (formerly CredAvenue) is now eyeing a fresh round of funding. Yubi founder and CEO Gaurav Kumar told Bloomberg in an interview that the startup will look to raise fresh capital in the range of $150 Mn to $200 Mn in the first quarter of next year. 

Kumar said that the fresh funds will help fuel its expansion into the MENA region as well as help acquire more businesses. 

“We will raise one more funding round before thinking of going public in the next few years,” he was quoted as saying.

The startup declined to answer Inc42’s queries seeking further details on the funding plans. 

Yubi managed to trim its net loss by over 22% to INR 395.8 Cr in the financial year 2023-24 (FY24) from INR 509.8 Cr in the previous fiscal year. The bottom line improvement came on the back of a hefty 47% jump in its revenue from operations to INR 483.7 Cr during the year. 

Yubi, founded as CredAvenue in 2017 by Kumar, is a debt platform that connects enterprises with lenders and investors. CredAvenue was remodeled to Yubi in 2020. It now provides solutions like tech infrastructure, risk evaluation, and collections platforms to support the end-to-end debt lifecycle from lenders to borrowers and back to lenders. 

It claims to have facilitated over INR 1.4 Lakh Cr in debt volumes and serves more than 17,000 enterprises and 6,200 investors and lenders. 

The startup is backed by investors like Peak XV, Lightspeed, Lightrock, TVS Capital, B Capital Group, Dragoneer Investment Group, and Insight Partners, among others. It has raised a total funding of about $256.80 Mn till date.

Yubi founder and CEO Gaurav Kumar said that the startup will look to raise fresh capital in the range of $150 Mn to $200 Mn in the first quarter of next year

The fresh funds will help fuel its expansion into the MENA region as well as help acquire more businesses

Yubi managed to trim its net loss by over 22% to INR 395.8 Cr in the financial year 2023-24 (FY24) from INR 509.8 Cr in the previous fiscal year

About three months after its founder infused INR 250 Cr (about $30 Mn), digital lending unicorn Yubi (formerly CredAvenue) is now eyeing a fresh round of funding. Yubi founder and CEO Gaurav Kumar told Bloomberg in an interview that the startup will look to raise fresh capital in the range of $150 Mn to $200 Mn in the first quarter of next year. 

Kumar said that the fresh funds will help fuel its expansion into the MENA region as well as help acquire more businesses. 

“We will raise one more funding round before thinking of going public in the next few years,” he was quoted as saying.

The startup declined to answer Inc42’s queries seeking further details on the funding plans. 

Yubi managed to trim its net loss by over 22% to INR 395.8 Cr in the financial year 2023-24 (FY24) from INR 509.8 Cr in the previous fiscal year. The bottom line improvement came on the back of a hefty 47% jump in its revenue from operations to INR 483.7 Cr during the year. 

Yubi, founded as CredAvenue in 2017 by Kumar, is a debt platform that connects enterprises with lenders and investors. CredAvenue was remodeled to Yubi in 2020. It now provides solutions like tech infrastructure, risk evaluation, and collections platforms to support the end-to-end debt lifecycle from lenders to borrowers and back to lenders. 

It claims to have facilitated over INR 1.4 Lakh Cr in debt volumes and serves more than 17,000 enterprises and 6,200 investors and lenders. 

The startup is backed by investors like Peak XV, Lightspeed, Lightrock, TVS Capital, B Capital Group, Dragoneer Investment Group, and Insight Partners, among others. It has raised a total funding of about $256.80 Mn till date.