by Suman Gupta
- GRO–Xstream and Yubi Co.Lend will provide MSMEs with financing of more than INR 2000 crore by March 2023, through various partners on Yubi Co.Lend
- Yubi Co.Lend has helped in establishing more than 50 partnerships between originators and Banks such as State Bank of India and Yes Bank on its platform, with INR 5,000+ crores worth of disbursements and 80,000 transactions/day in FY22
- Yubi Flow has enabled Supply Chain Finance to the tune of ₹1600+ crores to the channel partners of 25+ anchor corporates in India
- GRO–Line has supported more than 75 anchors to unlock financing of end retailers in India
Chennai, 3rd August, 2022: Yubi, the world’s first possibility platform that powers the discovery, execution and fulfilment of credit, has announced its latest partnership with U GRO Capital, a new generation Lending-as-a-Service (LaaS) business that has effectively leveraged technology to deliver last-mile credit to MSMEs in the country. The partnership will see the integration ofhttp://Yubi Co.Lend and Yubi Flow with GRO–Xstream and GRO–Line platforms, respectively. As a result of this double partnership, U GRO Capital will be able to leverage Yubi’s full stack operating system to seamlessly discover, go live and collaborate with multiple partners on Yubi’s platform. This association is a perfect example of product-led interoperability that enables quick access to multiple debt products with a one-time integration.
Through this alliance, U GRO Capital will gain access to Yubi Co.Lend’s vast network of Banks, Financial Institutions and Fintechs via a single API (Application Programming Interface) integration to extend and accelerate credit to the underserved sectors in the country. A shared mission of Yubi and U GRO Capital is to solve the financial challenges faced by MSMEs by building deep expertise in the sector coupled with a data-centric, technology-enabled approach. Through Yubi Flow, U GRO Capital will be able to finance the credit pipeline to channel partners of anchor corporations. These are essentially MSMEs whose cash flows and working capital will be positively impacted.
Talking about the partnership, Gaurav Kumar, Founder and CEO of Yubi, said: “We, at Yubi, are working towards accelerating financial inclusion in the country through a technology-driven credit infrastructure that powers discovery, execution and fulfilment. We are elated to partner with U GRO Capital with a shared vision to bridge the MSME credit gap in India by providing credit access to the unserved and underserved sectors in the country.”
Commenting on the development, Shachindra Nath, Vice Chairman and Managing Director, U GRO Capital, said, “With our data-tech approach, we were able to head-start co-lending partnerships with top national banks. What started as an experiment, co-lending, has gathered momentum and acceptance across the industry. The scale of big Banks combined with the agility and reach of nimble partnerships is going to be the bedrock of the transition of the lending industry. With Yubi’s tech-enabled credit infrastructure, we’ll be able to fast-track our initiatives to reach our mission of ‘solving the unsolved’ for the MSMEs.”
The co-lending or co-origination initiated by RBI provides a framework for the collaboration of two financial institutions, such as a bank and an NBFC, to finance the customer’s needs jointly. With the low-cost funds of a Bank and the on-ground capabilities-sourcing and servicing expertise of an NBFC, this alliance leverages the strengths of both the lenders, making this a winning proposition for all the stakeholders. With easy match-making and partnerships being stitched by Yubi, loan processing becomes seamless. With NBFCs/HFCs/Fintechs, U GRO Capital can track their investment on Yubi Co.Lend. It also takes care of all compliance requirements to enhance user experience.
About Yubi: Yubi is the world’s first possibility platform, powering the discovery, execution and fulfilment of credit with a comprehensive product suite catering to every stage of the debt lifecycle. It is a global pioneer that aims to revolutionise and deepen debt markets and is the only one of its kind in the world to provide a comprehensive debt product suite to all its borrowers.
The organisation has a portfolio of 7 platforms catering to every requirement of both borrowers and investors –
- Yubi Loans: A digitised full-stack corporate loan platform for banks and enterprises, designed to automate all corporate loan needs – from loan origination to disbursal – 5 times faster than ever.
- Yubi Co.Lend:Largest co-lending platform in India, trusted by the lending ecosystem to discover, go live and collaborate with multiple partners with quick one-time API integration.
- Yubi Invest:India’s leading Fixed Income Investment platform for bond issuance and investment for institutional and retail investors.
- Yubi Flow:A fully integrated & easy-to-use supply chain finance platform that offers trade financing solutions to lenders and corporates to strengthen their channel partner ecosystem.
- Yubi Pools:End-to-end securitisation management system for Banks & NBFCs that brings unparalleled efficiencies and a data-driven approach to ABS deal-making.
In addition, Yubi’s collections arm, spocto, is a global collect-tech platform that has pioneered debt collection using its AI-enabled recovery infrastructure. Launched by Sumeet Srivastava and Puja Srivastava in 2016, spocto enhances collection mechanisms that provide better opportunities to banks as well as consumers in their loan repayment process. Till date, spocto has recovered loans worth USD 8 billion and currently works with India’s leading financial institutions.
Corpository (a Yubi company) is a full-stack corporate credit underwriting company. The company also offers portfolio management and monitoring services as a SaaS offering to its borrowers and lenders.
Yubi currently has over 3,000+ Corporates and 750+ Lenders and has facilitated debt volumes of over INR 100,000 Crores. Yubi is an organisation on a mission to deepen and power the USD 120 trillion global enterprise debt market to unlock a GDP multiplier and create massive economic value.
To know more, visithttp://www.go-yubi.co.in
About U GRO Capital Ltd.: U GRO Capital Limited is a Data Tech Lending platform, listed on NSE and BSE. Pursuing its mission of “Solving the Unsolved” for small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach. (NSE: UGROCAP I BSE: 511742).
Company’s prowess of Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end to end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers and GRO Xapplication to deliver embedded financing option to MSMEs.
The credit scoring model GRO Score (2.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India
U GRO has pioneered the “Lending as a Service” (LaaS) model in India and has effectively operationalized Co-lending relationship with 10+ Large Public Sector Banks and large NBFCs and built a sizeable LaaS book of more than 20% of its AUM through the GRO Xstream platform.
Company is backed by marquee Private Equity funds and family offices (raised INR 900+ Cr of equity capital in 2018) and aims to capture 1% market share and cross INR 20,000 crore of AUM by FY25.
