On June 22, Debt marketplace startup CredAvenue changed its name to Yubi after two years. Founded in August 2020, CredAvenue is a marketplace connecting businesses with lenders and investors. It also helps businesses and lenders obtain primary and secondary bonds, the company said.

According to the company, the new brand embodies its long-term ambition to be ubiquitous in the debt ecosystem, serving as an invisible infrastructure layer that powers global credit and ensures frictionless access to capital.

Currently, the platform has five products. One is the syndicated loan platform, where banks and non-bank financial institutions discover and provide syndicated loans. Second, businesses seeking loans can do so through the platform, which helps manage repayments.

The third is a bond market that investors love, helping companies and lenders obtain primary and secondary bonds.
Its fourth platform helps secure working capital and cash flow requirements for supply chain finance. Finally, its Pools product offers structured financing options such as pass-through certificates and securitisation. The company said that going forward, Yubi may even outperform credit in the long run.

Just 18 months later, the company became a unicorn, raising $137 million in a Series B round that valued the company at $1.3 billion. Investors in Yubi include Insight Partners, B Capital Group, Dragoneer, TVS Capital and Sequoia Capital, among others.

Gaurav Kumar, founder and CEO of Yubi, said: “Yubi represents the beginning of our global ambitions as we prepare to open our first international office in the UAE and make a successful debut in the MENA (the Middle East and North Africa) region”.

“Another reason for the brand identity change stems from our conversations with clients and other stakeholders about how technology integration is a major barrier to digital finance development due to data security concerns surrounding financial information.”

In the past six months, the company has made two acquisitions. It acquired Mumbai-based Spocto Solutions, AI and ML-driven debt recovery platform that provides its client banks and institutions with additional capabilities in addition to the marketplace.

Yubi has acquired a 75.1% stake in Spocto Solutions at $46-56 million (Rs 350-450 crore). In April, the company acquired a majority stake in full-stack corporate credit underwriting firm Corpository at a valuation of Rs 100 crore.