Yubi Group, backed by Peak XV and Lightspeed Ventures, reported a nearly 50% year-on-year increase in revenue, reaching Rs 490 crore in FY24. In an interview with Narayanan V, Gaurav Kumar, founder and CEO of the Chennai-based fintech unicorn, shares insights into the key growth drivers, the business outlook for the current fiscal year, and plans for a potential IPO.
Can you provide an overview of the Yubi Group’s structure?
The Yubi Group operates across four key business verticals. The flagship vertical, Yubi, offers comprehensive lending infrastructure, including digital lending, co-lending, supply chain financing, and asset-backed securitisation. These services cater to banks and NBFCs, enabling them to provide a diverse range of loans — ranging from personal and two-wheeler loans to supply chain and dealer financing—all within a seamless, We process over one lakh retail loans on our platform every day.
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The second vertical, Aspero, is an online bond platform designed for retail investors. It facilitates large corporates and NBFCs in raising funds through bond issuances. The third vertical, Spocto X, is a debt collection platform that digitises the entire collections process, handling about 3.5 crore retail loan collections monthly for various banks. Finally, there’s Accumn, which provides credit underwriting solutions tailored for both retail and corporate lenders.
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In summary, we are a technology solutions provider for capital providers, with no lending activities from our own balance sheet.
Which segment in lending is growing the fastest?
The co-lending space is growing significantly. The co-lending market is projected to grow to Rs 1.8 lakh crore this year. We are noticing a shift from some direct assignments toward co-lending. Major NBFCs are increasingly entering co-lending as originators due to reduced funding costs through partnerships with banks. These loans undergo joint KYC checks, making the underwriting process very stringent.
Priority sector lending is also scaling up, with a growing emphasis on agriculture. Farm loans and tractor loans are gaining traction in the co-lending ecosystem.
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