CREDAVENUE
Yubi founder infuses Rs 250 crore in the digital lending platform
In March 2022, the tech-driven composite debt platform formerly known as CredAvenue, raised $137 million in a Series B funding round led by New York-based VC firm Insight Partners. Following a secondary share sale, it attained unicorn status and was valued at $1.5 billion.
ICRA appoints Shubham Jain as Head of Group Strategy and Business Transformation
Shubham Jain will be responsible for scaling up the company’s revenue streams through new business initiatives and implementing business transformation strategies to enhance efficiencies in its operations, the statement said. This is Jain’s second stint at ICRA.
Yubi appoints Atanu Chakraborty as chairman
Atanu Chakraborty is also currently the chairman of the board of HDFC Bank. “Since its inception, Yubi has been working towards providing various stakeholders in the Indian financial system with credible and efficient digital infrastructure. It gives me immense pleasure to join and chair the company's board and be a part of its mission to innovate and unlock the potential of growth of the Indian economy,“ said Chakraborty.
Collect Tech Platform Spocto hires ex-Google, Amazon executives
Spocto’s hirings come at a time when the firm is expanding its receivables management and delinquency prevention platform
Funding for Asia-Pacific fintech firms hits three-year high in Q1 2022
Indian companies led with way, accounting for 42% of the total amount raised and 36% of all deals
CredAvenue picks up majority stake in SaaS firm Corpository at Rs 100 crore valuation
With this acquisition, all lenders on CredAvenue’s platform will be able to evaluate and make lending decisions on the platform itself, thus saving time.
ETtech Deals Digest: Eruditus, Menlo Micro, CredAvenue raise funds
SoftBank-backed executive education-focussed startup Eruditus, technology company Menlo Micro and online debt marketplace CredAvenue were among the startups that raised funds this week.
BharatPe board won’t touch Grover-Koladiya fight; ET Startup Awards guests of honour
Sources tell us BharatPe’s board is unlikely to intervene in this fight and that shareholders will have to sort it out among themselves.
CredAvenue turns unicorn after raising $137 million funding
With this, CredAvenue joins the likes of other Indian startups such as Mamaearth, Fractal, Lead School, Elastic Run and Livspace that have entered the unicorn club in 2022.
CredAvenue acquires majority stake in Spocto Solutions
The acquisition will help CredAvenue include a digital collection solutions for lenders and help mitigate risk and curb fraud on its platform. It will also help improve collection efficiency.
Top ecommerce companies, startups step up campus hiring at B-schools
Placement cells at management schools, including the Indian Institutes of Management at Kozhikode and Indore, Symbiosis Institute of Business Management, Pune, also confirmed the sharp jump in hiring by such companies this year.
CredAvenue appoints Flipkart's Krishnendu Majumdar as chief product officer
Most recently, he served as the vice-president of catalogue and buying experience at Flipkart. He has experience across domains like banking, online brokerage, supply chain management, advertising, and e-commerce. In his new position, he will drive the firm's product strategy and build deeper synergies within different product verticals through technology-oriented solutions.
New-age firms roll out unlimited childcare leaves
These companies are also offering their staff childcare reimbursement and extended maternity and paternity leaves, with the third Covid wave prolonging the work-from-home routine for the majority of India’s organised-sector talent.
New-age firms expand childcare benefits to give employees greater flexibility
These companies are also offering their staff childcare reimbursement and extended maternity and paternity leaves, with the third Covid wave prolonging the work-from-home routine for the majority of India’s organised-sector talent.
CredAvenue brings on board ByteDance's Abhishek Mehrotra as CHRO
Debt markets platform CredAvenue has brought on board Abhishek Mehrotra as chief human resource officer. Mehrotra joins the firm from Bytedance.
Don't park funds in long-term gilts, advises CredAvenue's Vibhor Mittal to retail investors
A key prescription that Mittal suggested to strengthen retail appetite for government securities was the possibility of issuing tax-free bonds as the government had done in the past with certain other entities.
Air India sale, Tatas' EV arm keep deal street busy in October with USD 9.2 billion fund flows
While the deal volume almost doubled over October 2020, in value it fell 11 per cent owing to lower average deal size from USD 78 million in October 2020 to USD 37 million in October 2021. However, the month saw 14 high value investments, including Tata Motors' EV arm raising USD 1 billion.
CredAvenue raises $90 million in India's biggest Series A funding round
CredAvenue has raised $90 million in a Series A funding round led by Sequoia Capital, at a valuation of $410 million. The funding will be used to expand the product suite and ramp up technology, CredAvenue founder Gaurav Kumar says.
Online debt arranging platform CredAvenue to double headcount by March 2022
"We expect to double our headcount to 700 by the end of FY22, from 350 now. It was 250 last year. Of the total staff, as much as 450 will be in the technology vertical and we have already hired 100," Gaurav Kumar, founder and chief executive of CredAvenue, told PTI on Friday.
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