Fintech Unicorn Yubi Valued At $1.5 Bn In Secondary Share Sale

Digital lending unicorn Yubi (formerly CredAvenue) has reportedly commanded a valuation of $1.5 Bn following a secondary share sale. The fintech unicorn, operated by the Chennai-based non-banking financial company (NBFC) Vivriti Capital, is set to separate from its parent entity. The restructuring process saw Vivriti sell a part of its shareholding in Yubi to existing investors at a valuation of $1.5 Bn.

Vivriti owns just under 50% of Yubi. According to two people cited in an ET report, the secondary share sale is a result of the restructuring following the separation of Yubi from Vivriti. As per the sources, the process started a year ago and is close to completion. This is at a premium to its last funding round where it raised $137 Mn at a valuation of around $1.2 Bn. Insight Partners, Dragoneer Investment Group and B Capital Group led the funding round in 2022. Vivriti Capital, too, had raised $30 Mn in a Series C funding round early in 2022, taking its total fundraise to $200 Mn.