Yubi Group Rejigs Top Deck With New Tech, Business And Product Heads

Fintech unicorn Yubi Group, formerly known as CredAvenue, has made major leadership appointments across its group companies — Yubi, Corpository and Aspero — as well as a host of other changes across its product and finance functions.

These include:

1. Bharat Krishnamurthy has been elevated to chief technology officer at Yubi and Aspero
2. Vinod Deiveegan has been promoted as chief business officer for Corpository 
3. Anand Narayanan will take over as chief product officer for Yubi and Corpository
4. Ramesh Ramanathan is elevated as deputy chief financial officer of Yubi Group
5. Amitesh Bhattacharya is lifted to be group general counsel for Yubi Group of Companies

These candidates who have been promoted to the C-suite executive roles, are existing employees of Yubi Group, having worked with the company for at least a period of two years.

Founded in 2020 by Gaurav Kumar, Yubi Group is a fully integrated, unified digital platform that helps discover, trade, execute and fulfill debt solutions for investors. The company is backed by Peak XV, Lightspeed, Lightrock, TVS Capital, among others.

Yubi Group, legally registered as CredAvenue Private Limited, has two full-owned subsidiaries including spoctoX and Corpository. 

The former is an AI-driven debt-support and risk mitigation platform designed to assist banks and non-banking lenders in effectively managing and optimizing their debt collections processes.

Meanwhile, Corpository is a data science brand, which offers end-to-end automated, complete lifecycle solutions for credit evaluation, forensic analysis, corporate due diligence, portfolio monitoring and smart lead generation.

Besides these, Yubi Group also houses Aspero, a separate entity that operates as a fixed-income investment platform, allowing investors to invest in listed bonds.

“These strategic leadership changes and promotions reflect our unwavering commitment to fostering talent and driving innovation across our business units. As we continue to deepen the debt market and democratize capital flow, our newly appointed leaders will play a pivotal role in achieving our vision and delivering exceptional value to our clients,” said Kumar, founder and chief executive of the company.

The fintech platform has made an addition of 22 Lakh shares to the expanded stock option plan in the current quarter, which sums the stock pool to about INR 1,000 Cr, Yubi said in a statement.

The Yubi Group posted INR 327.6 Cr in revenue in FY23, nearly 2X higher than FY22’s net revenue of INR 165.6 Cr. However, Yubi’s net loss surged to INR INR 509.8 Cr in FY23, almost ninefold higher than the net loss of INR 57.4 Cr in the previous year.