Gaurav Kumar, the founder and CEO of fintech unicorn Yubi (formerly CredAvenue), has made a significant equity capital infusion of Rs 250 crore into his company.
Gaurav Kumar, a seasoned entrepreneur with 18 years of experience in the Indian debt and fintech markets, co-founded Vivriti Capital in 2017 and Vivriti Asset Management in 2019 before establishing Yubi Group in 2020.
Growth of Yubi Group under Gaurav Kumar’s leadership
Yubi Group, which started as CredAvenue, has seen rapid growth under Gaurav Kumar’s leadership.
The company has expanded its operations to include various entities such as Yubi, Aspero, Spocto, Corpository, and Finfort, providing comprehensive debt lifecycle management products.
The platform connects businesses seeking loans with financial institutions and investors, offering solutions like vendor and dealer financing, as well as a marketplace for primary and secondary bonds. Yubi has facilitated over Rs 1,40,000 crore in debt volumes, serving more than 17,000 enterprises and 6,200 investors and lenders.
Achieving unicorn status
In March 2022, Yubi became India’s fastest fintech company to achieve unicorn status following a $137 million Series B fundraising round.
The round was led by Insight Partners, Dragoneer Investment Group, and B Capital Group, bringing the company’s post-money valuation to $1.3 billion.
This was preceded by a Series A round in September 2021, which saw participation from investors like Peak XV, Lightspeed Ventures, TVS Capital, and Lightrock. After a secondary sale last year, the company’s valuation further increased to $1.5 billion.