Debt market start-up CredAvenue rebrands itself as Yubi
The online debt market CredAvenue has rebranded itself as Yubi. According to a company press release, the new name represents the company’s long-term goal of controlling the debt ecosystem and acting as a transparent layer of infrastructure that supports credit and enables a frictionless access to credit globally.
The company announced that through an overhaul of its website, social media accounts and current product lines, the new brand will be reflected in every customer touchpoint. In line with its commitment to help its customers “Go Get Great”, Yubi will provide a richer and more consistent brand experience, the company said.
In the past six months, the company has made two significant acquisitions (Spocto and Corpository). It was created in August 2020, and since March this year, when a Series B funding round was secured, its valuation has risen to $1.3 billion, making it one of the fastest growing fintech forms in India.
In addition to providing a full range of debt solutions to its client, the company also offers portfolio administration and monitoring services as a SaaS product to both its lenders and borrowers. Yubi has facilitated loan volumes of over Rs 90,000 crore and claims to have over 2,300 corporate clients and 750 lenders at present.
Commenting on the development, Gaurav Kumar, Founder and CEO of Yubi, said, “This is an exciting transformation and a solid foundation for the ever-changing nature of our business. Yubi represents the start of our global ambitions as we prepare to launch our first international office in the UAE, making its successful debut in the MENA region. Another reason for the change in brand identity stems from our conversations with customers and other stakeholders about how technology integration due to data security concerns regarding financial information remains one of the main obstacles to the advancement of digital finance. We aim to close this trust gap and, in this effort to humanize the brand, we are confident that we can continue to develop our platform, which is nourished by new opportunities for individuals and businesses.
Yubi collaborated with international branding agency venturethree to develop a disruptive brand ready for the new era of lending and other market opportunities.
Philip Orwell, Managing Director of venturethree, commented on the development saying, “Yubi’s ambition is to redefine how people, from all walks of life, can access capital in the Indian market and help drive business growth. without the obstacles we have seen in the past. Working closely with the Yubi team, we have developed a brand focused on the power of connection, bringing much-needed warmth and humanity to the market.
According to the company’s press release, Yubi may eventually be looking for ways to expand beyond credit. The company said that by adopting the Yubi name and the revised brand, which is aligned with its strategic goals, it would be able to leverage the power of a well-known, global name to achieve its future aspirations.
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