Fintech firm Yubi's valuation reaches $1.5 Billion in secondary share sale

Indian fintech startup, Yubi (formerly CredAvenue) has reportedly seen a surge in its valuation to $1.5 billion after a secondary share sale transaction. 

According to an ET report, The platform, a subsidiary of Vivriti Capital, has also seen its parent company sell off a portion of its shareholding to existing investors, which has reduced Vivriti Capital's stake in Yubi to below 50%.

The operation to untether Yubi from Vivriti Capital commenced nearly a year ago, with the purpose of making Yubi and the Non-Banking Financial Company (NBFC) stand-alone entities. The ongoing restructuring process is now nearing its end, as stated in the report.

Yubi achieved unicorn status in March of the previous year after a $137 million series B funding round, which saw its valuation rise to about $1.3 billion. The $137 million funding round was led by Insight Partners, Dragoneer Investment Group, and B Capital Group. 

Last month, the company acquired Finfort, a Bengaluru-based credit analytics company, for an undisclosed sum. This follows on from significant purchases last year; in April 2022, it bought a majority stake in Corpository, a corporate credit underwriting company, for Rs 100 crore, and in February of the same year, it procured Spocto Solutions, a debt-recovery platform, for Rs 400 crore.

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

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