Yubi Onboards Anil Mehta as Independent Director

Chennai-based digital lending unicorn Yubi (formerly CredAvenue) has appointed financial services sector veteran Anil Mehta as an independent director to its board.

In his earlier leadership roles, Mehta worked with Max Life Insurance Company Limited, Australia and New Zealand Banking Group (ANZ Banking Group), Bank of America and American Express. He also founded India Shelter Finance Corporation Ltd. (ISFC) in 2010.

With Mehta’s appointment, the company aims to make a transparent and responsible debt ecosystem. It is also followed by him joining Yubi’s AI-powered fintech platform Spocto in 2023.

“His extensive experience in financial inclusion and proven leadership in building scalable businesses will be invaluable as we continue to empower the debt ecosystem. Anil’s insights will be instrumental in guiding our strategic direction and accelerating our mission to democratise capital flow,” said Gaurav Kumar, founder and chief executive officer, Yubi Group.

Founded in 2020 by Kumar, Yubi Group claims to be the world’s only tech company to power end-to-end debt cycle. The company facilitates every operation in a lending cycle, including money flow from lenders to borrowers and then back to the lenders.

The company counts Peak XV Partners, Lightspeed, Lightrock, TVS Capital Funds, B Capital Group, Dragoneer Investment Group and Insight Partners among its marquee investors.

Recently, Yubi Group has also partnered with MODIFI, Europe-based B2B fintech platform to increase access to capital and promote inclusive economic development, a Business Line report claims

The company  currently claims to serve over 6,200 investors and lenders while reducing the collection cost by 57%. In 2023, the company got separated from Vivriti Capital, its parent entity at a valuation of $1.5 Bn.

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