New Delhi, Nov. 18 -- Loan-distribution-and-management platform Yubi, originally founded as CredAvenue in 2020 by Gaurav Kumar, has secured more than Rs 411 crore ($46.4 million) in fresh funding as the company prepares for a wider international push and deeper AI product investment.
The Chennai-headquartered financial services firm has raised the capital through a mix of long-term structured debt and equity. EvolutionX Debt Capital has committed up to Rs 336 crore (nearly $38 million), while founder and chief executive Kumar has added Rs 75 crore (around $8.5 million) of his own capital. His cumulative equity infusion now stands above Rs 330 crore.
The company plans to use the money to expand across Southeast Asia and the United States and strengthen its position in the Middle East. A sizeable share of the investment will go toward building out its proprietary AI capabilities.
Kumar said the fresh capital reflects confidence in the company's plan to build a global operating system for financial services. He added that the partnership with EvolutionX gives Yubi access to flexible long-term capital.
Rahul Shah, partner at EvolutionX Debt Capital, said Yubi has delivered strong scale and technology advancement while working toward profitability. He said EvolutionX sees clear potential for the company to expand its credit infrastructure model to global markets.
Yubi claims that it has facilitated more than Rs 3.2 lakh crore in debt and handled over 48 lakh transactions. Its platforms serve more than seventeen thousand enterprises and more than six thousand lenders and investors.
Yubi Group operates an applied AI suite called YuVerse that powers Yubi, Accumn, Spocto X and YuCollect. Together, these businesses offer products across lending, underwriting and collections. It has been backed by investors such as Peak XV, Insight Partners, Lightspeed, B Capital Group, Dragoneer and TVS Capital.
Published by HT Digital Content Services with permission from VC Circle.