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.