Fintech

Unicorn Yubi expands its team amid tech layoffs

Pratik Bhakta

November 30, 2022 | 4 Min Read

The young debt marketplace is in the middle of an early golden run, with its valuation, business and workforce growing. Though the broader startup scene is gloomy, Yubi cannot afford to slow down

Debt marketplace Yubi came into being in very different circumstances than most startups. It was incubated within a larger company (Vivriti Capital) and spun off with a meaty Series A funding round, attaining unicorn status within two years of finding its feet.

The Series A of $90 million took place in September 2021, followed by an even higher Series B of $137 million this March. Yubi, which was called CredAvenue in its previous avatar, is worth $1.3 billion today.

The fintech, founded by Gaurav Kumar, reported gross revenues of Rs 153 crore in FY22, surging 500% from Rs 25 crore a year ago. At the same time, its losses also ballooned from Rs 6.6 crore to Rs 55 crore.

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