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Fintech platform Yubi Group has raised INR 411 crore in a fresh funding round that includes a long term structured debt facility and INR 336 crore in equity from EvolutionX Debt Capital.
Founder and chief executive Gaurav Kumar has also contributed INR 75 crore, taking his total equity investment in the firm to more than INR 330 crore.
The new funding will support Yubi’s plans to expand its operations in Southeast Asia and the United States. The company also aims to strengthen its presence in the Middle East.
A part of the capital will be directed toward improving its artificial intelligence products and scaling its operating system for financial services across global markets.
Yubi stated that it has so far facilitated more than INR 3.2 lakh crore in debt and supported over 48 lakh transactions. The platform works with more than 17,000 enterprises along with over 6,200 lenders and investors.
Founded in 2020, Yubi Group operates an AI powered financial services system driven by its core suite called YuVerse. The suite supports Yubi, Accumn, Spocto X and YuCollect, which provide solutions for lending, underwriting and collections.
The company has raised more than USD 296 million to date. This includes USD 135 million Series B round that placed it in the unicorn category. Its investor base includes Vivitri Capital, Peak XV Partners, TVS Capital, Lightspeed, B Capital, Lightrock and Insight Luxembourg.
