Indian fintech platform Yubi is looking to raise up to $200 million early next year to finance its global expansion, as the company embarks on a new funding round after narrowing its losses. Founded in 2020 and formerly known as CredAvenue Pvt., Yubi is capitalising on the growing debt market in India. Yubi’s operating revenue grew 48% in the year ended March to 4.8 billion rupees ($57 million), according to company filings. The sales growth helped the company narrow its loss by 22% to 3.9 billion rupees, the filings showed. Currently valued at $1.5 billion, Yubi entered the unicorn club in 2022, after raising $137 million in a round led by Insight Partners, B Capital and Dragoneer.

Source: The North Africa Journal November 26, 2024 09:56 UTC