NARAYANAN V | Chennai, June 21 |
Gears up for international expansion, to widen product portfolio
CredAvenue, a leading debt marketplace, has rebranded itself as ‘Yubi’ as it gears up for international expansion and widen its product portfolio in its mission to become an ubiquitous name in the global debt ecosystem.
Founded in 2017, CredAvenue facilitates debt financing for enterprises by connecting lenders and investors with corporate borrowers through an online marketplace. The Chennai-based fintech start-up entered the unicorn club in just 18 months after raising around $137 million in its Series B funding in March.
“This is an exciting transformation and a solid foundation for the constantly evolving nature of our business. Yubi represents the beginning of our global ambitions as we prepare to launch our first international office in UAE, successfully debuting in the MENA region,” Gaurav Kumar, Founder and CEO of Yubi, said in a press statement.
“Another reason for the brand identity change stems from our conversations with customers and other stakeholders on how technological integration because of data security concerns around financial information remains one of the key deterrents in the advancement of digital finance,” he added.
5-in-1 debt platform
Yubi offers a 5-in-1 platform with products covering the debt lifecycle. Its offerings include YubiLoans (Term lending and working capital solutions), YubiCo.Lend (Co-lending partnerships for banks and NBFCs), YubiInvest (Bond Issuance and investment for institutional and retail participants), YubiFlow (Trade financing solutions) and YubiPool (End-to-end securitisation and portfolio buyouts). The company will soon be launching YubiBuild, a real estate and infrastructure vertical.
“As we go global and also grow our product lines in the next phase of growth, it becomes imperative to have a simple and globally extendable brand name. Hence, this brand name change is not necessitated by stagnancy but by an exponential growth,” Karanpreet Bindra, Chief Marketing Officer of Yubi, told BusinessLine.
“We want to be ubiquitous in the financial ecosystem and our brand name Yubi, which is a derivative from the word ubiquitous, is a reflection of that mission,” he added.