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Yubi founder Gaurav Kumar invests Rs 250 Cr in the company

EntrackrEntrackr · 10m ago
Yubi founder Gaurav Kumar invests Rs 250 Cr in the company
Medial

Fintech unicorn Yubi (formerly CredAvenue) founder and CEO Gaurav Kumar has invested Rs 250 crore ($30 million) in equity capital in his startup. This makes one of the largest capital infusions by a founder in a technology company in recent times. The board of Yubi approved this equity round in August 2024. Kumar and Vineet Sukumar launched non-banking financial company (NBFC) Vivitri in 2017. Three years later, the duo co-founded debt marketplace, Yubi. Yubi’s platform connects businesses seeking loans with financial institutions and other investors. Its solutions include vendor and dealer financing, and a bonds marketplace that provides access to exclusive primary and secondary bonds. The company claims to have facilitated over Rs 1,40,000 crore in debt volumes, serves more than 17,000 enterprises and 6,200 investors and lenders. Yubi turned unicorn in March 2022 after a $135 million Series B round led by Insight Partners, Dragoneer Investment Group, and B Capital Group. Last year, its valuation touched $1.5 billion after secondary sale. Last month, Yubi had added fresh employee stock options worth $26 million for its employees. The company’s total ESOP plan stood at $70 million. In 2024, the trend of investment from founders in their own startup is picking up. Recently, Oyo founder Ritesh Agarwal pumped in $100 million alone in the company through his Singapore-based entity Patient Capital. EV firm Ather Energy’s co-founders Tarun Mehta and Swapnil Jain invested $10 million in the company. In the past, mobility firm BluSmart and edtech firm Byju’s also raised hefty money from their founders.

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Yubi posts Rs 328 Cr revenue and Rs 482 Cr loss in FY23

EntrackrEntrackr · 1y ago
Yubi posts Rs 328 Cr revenue and Rs 482 Cr loss in FY23
Medial

Yubi (formerly CredAvenue) grabbed wide attention when Vivriti Capital sold a part of its stake in the digital lending company at a valuation of $1.5 billion. Even as Vivitri made a fortune after the secondary transaction, the firm’s bottom line worsened, by 8X in the fiscal year ending March 2023. We will dive deeper into the company’s expenses pattern, which is responsible for its steep losses later in our analysis. For now, let’s review its collection streams. Yubi’s revenue from operations surged 98% to Rs 328 crore in FY23 from Rs 166 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Yubi is a debt platform that connects businesses with banks and NBFCs. The company offers six distinct products including a lending marketplace, a supply chain financing marketplace, and dedicated real estate and infrastructure financing solutions. With 6,200 investors and over 17,000 active enterprises on board, Yubi claims to have facilitated credit worth Rs 1.4 lakh crore. Income from merchant banking and other allied services provided to corporate borrowers and debt investors formed 54% of the total revenue. Commissions on debt facilitation, collection solutions and data collection were other revenue drivers for Yubi. Check TheKredible for the detailed revenue breakup. Similar to the other technology startups, Yubi’s employee benefits accounted for 48% of the overall expenses. This cost surged 4.7X to Rs 432 crore in FY23 from Rs 92 crore in FY22. This expense also included Rs 109 crore as ESOPs cost (non-cash in nature). Yubi’s business supports services, information technology, traveling, legal/professional, and marketing costs took its overall expenditure up by 314% to Rs 895 crore in FY23 from Rs 216 crore in FY22. Expenses Breakdown Total ₹ 216 Cr https://thekredible.com/company/yubi-credavenue-/financials View Full Data To access complete data, visithttps://thekredible.com/company/yubi-credavenue-/financials Total ₹ 895 Cr https://thekredible.com/company/yubi-credavenue-/financials View Full Data To access complete data, visithttps://thekredible.com/company/yubi-credavenue-/financials Employee benefit Employee benefit Business support service Business support service Information technology Information technology Travelling conveyance Travelling conveyance Legal professional Legal professional Advertising promotional Advertising promotional Others To check complete Expense Breakdown visit thekredible.com View full data Head to TheKredible for a complete expense breakdown. At the end, Yubi’s losses increased by 745% to Rs 482 crore in FY23 from Rs 57 crore in FY22. Its ROCE and EBITDA margin worsened -30% and -105%, respectively. On a unit level, the Chennai-based company spent Rs 2.73 to earn a rupee of operating revenue during FY23. FY22-FY23 FY22 FY23 EBITDA Margin -8% -105.1% Expense/₹ of Op Revenue ₹1.30 ₹2.73 ROCE -2% -30% Rs 328 crore is probably a very small, if not fraction of where Yubi wants to be, operating in a market as vast as the debt syndication market in India. While it is too early to judge it for its operating metrics, the assumption is that having arranged credit of almost $18 billion, the firm will have picking up learnings and data along the way that continue to make it better at its job. It’s a market where seasoning, or time spent in the market matters, and 3 years or more is the minimum one would give before deciding if a firm has it to last. Of course, competition is intense, as is the risk of disintermediation that always hangs in this business, even as the proliferation of platforms like Yubi, Lendingkart etc has probably proven that it is one risk that is overhyped.

Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr

EntrackrEntrackr · 7m ago
Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr
Medial

Omnichannel jewellery retailer Bluestone appears close to filing a draft red herring prospectus (DRHP) as it has received the board’s approval for an initial public offering worth Rs 1,000 crore ($120 million) through a mix of fresh issues and offers for sale. According to company filings accessed by Entrackr, the board at Bluestone has passed a special resolution to approve its initial public offer of equity shares amounting to Rs 1,000 crore. The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The utilization of the fresh proceeds to be raised via the IPO will be disclosed in the offer documents, the filings added. Bluestone has also passed a resolution to issue 13,00,000 equity shares to Gaurav Singh Kushwaha, the founder and CEO of the company, to raise Rs 75 crore ($9 million). The fresh investment by Kushwaha is aimed at meeting the minimum capital requirement for promoter shareholders, as mandated by the Issue of Capital and Disclosure Requirements (ICDR) regulations. As of now, Kushwaha’s aggregate shareholding, eligible for computing the minimum promoter contribution requirement for the company’s proposed IPO, stands at 9.15%, according to the filings. In September, Bluestone initiated its pre-IPO round worth Rs 900 crore. According to sources, Bluestone plans to price its IPO shares between Rs 550 -600 each. Data from TheKredible indicates that the company's post-money valuation reached approximately Rs 7,750 crore (around $922 million) excluding ESOP, following its latest private funding round. During the previous fiscal year (FY24), Bluestone reported a 64% year-on-year growth in revenue, reaching Rs 1,266 crore from Rs 771 crore in FY23. Simultaneously, the company managed to reduce its losses by 15%, bringing them down to Rs 142 crore in FY24. Titan-owned CaratLane, a competitor to BlueStone, reported revenue of Rs 3,081 crore in the last fiscal year (FY24). The company remained profitable during the year; however, its profit saw a slight decline, dropping to Rs 79 crore in FY24 from Rs 82 crore in FY23.

Indian cricketer Rinku Singh invests Rs 1.9 Cr in BeastLife at 120 Cr Valuation

EntrackrEntrackr · 2m ago
Indian cricketer Rinku Singh invests Rs 1.9 Cr in BeastLife at 120 Cr Valuation
Medial

Indian cricketer Rinku Singh invests Rs 1.9 Cr in BeastLife at 120 Cr Valuation Nutrition brand BeastLife has raised Rs 1.9 crore at the valuation of 120 crore from Indian cricketer Rinku Singh. Rinku chose to actively support its growth by investing in the company and using its platform to raise awareness about the importance of clean, reliable, and effective supplements within the athlete community, BeastLife said in a press release. The startup had previously raised $479K in an angel round. Co-founded in 2024 by Gaurav Taneja and Raj Vikram Gupta, BeastLife is an Indian fitness brand that operates as an online platform selling sports nutrition and bodybuilding supplements. The company aims to empower individuals to achieve their fitness goals and break boundaries. Its products include protein supplements, BCAA, creatine, and multi-vitamins. The Gurugram-based company also offers a roti protein mix to boost protein intake in everyday meals. The company's products are designed to provide a noticeable difference in absorption and results. Its other products, including the Pro Concentrate Whey Protein with Ultrasorb Tech, are built to support muscle recovery and overall performance, using carefully selected ingredients that meet the needs of modern athletes. BeastLife stands for something bigger than just supplements. It’s about creating the finest products with top-quality ingredients, backed by science and integrity. “What really drew me in was the brand’s vision to make world-class sports nutrition accessible in India. That’s something I believe in deeply and am proud to support,” said Rinku Singh. The brand's equity split includes Gaurav Taneja holding a 40% stake, Raj Gupta holding 15%, Varun Alagh, co-founder of Mamaearth, holding 30%, and 15% ESOP. The company faces competition from other fitness brands like MuscleBlaze, Optimum Nutrition, GNC, and The Whole Truth. In just over a year, the brand claims that it has achieved Rs 50 crore GMV with positive EBITDA and is currently tracking an Annual Recurring Revenue (ARR) of ₹80 crore GMV while maintaining performance marketing costs at just 15%.

Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj

EntrackrEntrackr · 8m ago
Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj
Medial

Consumer lending and payments startup Slice has raised Rs 71.7 crore (approximately $8.6 million) from its founder and CEO, Rajan Bajaj, via partly paid-up shares. This follows the company’s recent Rs 300 crore debt funding round, raised through convertible debentures co-led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust. According to a special resolution passed by Slice’s board, 22,000 equity shares will be issued at an issue price of Rs 32,606 each, as per the company’s regulatory filing with the Registrar of Companies. Bajaj’s investment will be completed in one or more tranches and is designated for general business purposes. Slice offers a physical and virtual card aimed at millennials, allowing students and salaried professionals to purchase products and services online with collateral-free EMIs through its app, while also helping users build credit scores. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. According to TheKredible, Tiger Global is the largest stakeholder, followed closely by Insight Partners. See TheKredible for the complete shareholding pattern. While FY24 numbers are yet to be disclosed, Slice saw threefold growth in FY23, with revenue climbing to Rs 847 crore from Rs 283 crore in FY22. However, in pursuit of growth, Slice’s losses up by 59.8%, to Rs 406 crore in FY23 compared to Rs 254 crore in FY22. In 2024, several startup founders and executives have reinvested in their companies. Recently, Yubi founder and CEO Gaurav Kumar invested $30 million in his startup, while Oyo founder Ritesh Agarwal contributed $100 million through his Singapore-based entity, Patient Capital. Co-founders of EV firm Ather Energy, Tarun Mehta and Swapnil Jain, also invested $10 million in their company. Omnichannel jewelry startup Giva also raised an undisclosed sum from its senior management.

Zomato invests Rs 500 Cr in Blinkit

EntrackrEntrackr · 5m ago
Zomato invests Rs 500 Cr in Blinkit
Medial

Food tech giant Zomato has invested Rs 500 crore (nearly $60 million) in its quick commerce subsidiary, Blinkit, bringing its total investment in the quick commerce segment to Rs 2,800 crore since the acquisition. The board has Blinkit has passed a resolution to issue 2,537 equity shares at an issue price of Rs 19,70,181 each to raise Rs 500 crore, its regulatory filing accessed from the Registrar of Companies shows. The capital injection into Blinkit comes just two months after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP). The primary objective of that fundraising was to strengthen Zomato's financial position, enabling business expansion and strategic initiatives, particularly in the quick commerce segment through Blinkit. This marks Zomato's second capital infusion in Blinkit within seven months. In June 2024, it invested Rs 300 crore ($36 million) into the Albinder Dhindsa-led company. Blinkit, formerly known as Grofers, was acquired by the food delivery giant in an all-stock deal valued at Rs 4,477 crore ($568 million).

Amicus invests Rs 125 Cr in Equirus; Federal Bank part-exits

YourStoryYourStory · 8m ago
Amicus invests Rs 125 Cr in Equirus; Federal Bank part-exits
Medial

- Private equity firm Amicus Capital has invested Rs 125 crore in Equirus Group for an undisclosed stake. - The investment includes a combination of primary and secondary purchases, with Federal Bank taking a partial exit. - The new investors in Equirus Group include Kishor Patil, Ajai Kumar, N Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, and Deepak Singhal. - Equirus Group offers investment banking, insurance broking, and asset management services. - The raised funds will be used for capital expansion, technology investments, talent acquisition, operational improvements, and risk management. - Amicus Capital Partners believes that Equirus Group is well positioned to take advantage of India's growth story.

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