SUMMARY
- Yubi’s operating revenue grew 47.6% in FY24, reaching ₹483.7 Cr, with losses reduced by 22.4%.
- Platform services contributed ₹220.54 Cr, while interest from loans generated ₹133.95 Cr in FY24.
- The firm’s expenses slightly rose 1.7% to ₹938.82 Cr, despite a 12.1% reduction in employee benefits.
Yubi, previously known as CredAvenue, continued its impressive growth for the fiscal year ending in March 2024, with a notable 47.6% increase in operating revenue. The business also cut its losses by more than 22%. Additionally, in FY24, Yubi’s operating revenue increased to ₹483.7 crore from ₹327.57 crore in FY23, according to its consolidated financial statement submitted to the Registrar of Companies (RoC).
By helping businesses, banks, fintechs, and non-banking financial organizations with debt restructuring, credit evaluation, and collections, the firm is a debt platform that makes money. Its six offerings are specialized financing solutions for real estate and infrastructure, a loan marketplace, and a supply chain financing platform.
In the most recent fiscal year, platform services accounted for ₹220.54 crore, or 45.6% of the company’s operational income. In FY24, interest from loans, or collection revenue, generated ₹133.95 crore. The contributions from corporate database offers and fee-based services were ₹44.46 crore and ₹89.38 crore, respectively.
In FY24, Yubi’s biggest expense component, employee benefits, dropped 12.1% year over year to ₹379.98 crore. In the previous fiscal year, depreciation and amortization costs increased by 66.5% to ₹134.05 crore, while other operating expenses, including marketing and IT, increased by 9.4% to ₹405.09 crore.
The firm spent ₹938.82 crore in total for the fiscal year that ended in March 2024, a slight 1.7% rise from the previous year. Despite its sales growth, It reduced its losses from ₹509.83 crore in FY23 to ₹395.8 crore in FY24, a 22.4% decrease. Its ROCE and EBITDA margins, which were -29.28% and -39.74%, respectively, stayed negative. The company paid ₹1.94 per unit to create every rupee of operating income during the previous fiscal year.
Following a $135 million Series B financing headed by Insight Partners, Dragoneer Investment Group, and B Capital Group, Yubi became a unicorn in March 2022.
After a secondary sale last year, its valuation reached $1.5 billion. Gaurav Kumar, the founder and CEO of Yubi, contributed ₹250 crore ($30 million) in equity capital to the business in August. Vivriti Capital, Yubi’s NBFC subsidiary, owns a little over half of the business.
