Yubi valuation touches $1.5B after secondary sale by investors

Yubi, the digital lending platform and a subsidiary of Vivriti Capital, has successfully raised funds and achieved a valuation of approximately $1.5 billion in a recent secondary transaction.

The parent company, Vivriti Capital, has also sold a portion of its shareholding to existing investors as part of this transaction, resulting in its stake falling below 50%. According to a report by ET Prime.

The process of separating Yubi from its parent entity, Vivriti Capital, began nearly a year ago, aiming to establish independent entities for the lending platform and the Non-Banking Financial Company (NBFC). The restructuring process is now nearing completion, as stated in the report.

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Yubi became a unicorn in March of the previous year, with a valuation of about $1.3 billion following a successful Series B funding round. The $137 million funding round was led by Insight Partners, Dragoneer Investment Group, and B Capital Group. The investors involved in the recent secondary transaction, however, have not been disclosed.

In addition to its recent funding, Yubi has been actively expanding its portfolio through strategic acquisitions.

Last month, it bought Finfort—a Bengaluru-based credit analytics company—for an undisclosed amount. This builds on some of its major acquistions from last year. In April 2022, it bought a majority stake in Corpository, a corporate credit underwriting company at a valuation of Rs 100 crore. Yubi also purchased Spocto Solutions, a debt-recovery platform, for Rs 400 crore in February last year.

Yubi, formerly known as CredAvenue, is an Indian fintech company founded by Gaurav Kumar that connects businesses with financial institutions, banks, and other lenders through its digital platform.