Gaurav Kumar, the founder and CEO of Yubi (formerly CredAvenue), a fintech unicorn, has invested Rs 250 crore ($30 million) in equity capital in his venture. This represents one of the most substantial capital infusions by a technology company founder in recent history.
In August 2024, the Yubi board of directors authorized this equity round.
A non-banking financial company (NBFC) named Vivitri was established in 2017 by Kumar and Vineet Sukumar. The lending firm Yubi was co-founded by the duo three years later.
Every stage of the money flow from lenders to borrowers and back to lenders is facilitated by Yubi’s technology infrastructure, risk evaluation, and collections platforms. The organization asserts that it has facilitated debt volumes exceeding Rs 1,40,000 crore and has provided services to over 17,000 enterprises, as well as 6,200 investors and lenders.
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In March 2022, Yubi achieved unicorn status following a $135 million Series B round that was led by Insight Partners, Dragoneer Investment Group, and B Capital Group. It achieved a valuation of $1.5 billion following a secondary sale last year.
In the previous month, Yubi had implemented new employee stock options valued at $26 million for its employees. The company’s total ESOP plan was $70 million.
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