Unified credit marketplace digital platform Yubi announced its complete acquisition of FinFort Infotech, a digital credit analytics company specializing in the retail segment. The terms of the acquisition were not disclosed. FinFort will now become part of the Yubi group of companies, working in collaboration with Yubi's subsidiary, Corpository.
Enhancing Credit Analytics with FinFort's Expertise
FinFort brings advanced technology infrastructure and data analytics capabilities to banks and NBFCs, enabling them to leverage private data for credit assessments. The acquisition of FinFort allows Yubi to strengthen its position as a key player in the credit industry. It expands Yubi's product suite and enhances its capabilities to provide comprehensive solutions and services to customers.
Yubi's Mission of Deepening the Debt Markets
Gaurav Kumar, Founder and CEO of Yubi, stated that the acquisition aligns with their mission of becoming a ubiquitous layer, a unified credit infrastructure that deepens the debt markets. With FinFort's expertise in digital credit analytics and the strengths of Corpository, Yubi aims to deliver comprehensive solutions that cater to the evolving needs of their customers.
Corpository: A SaaS-based Credit Analytics Platform
Corpository, Yubi's subsidiary, offers a SaaS-based credit analytics platform for corporate lending. It provides access to over 100 public information sources, including MCA, court records, tribunals, and more. The integration of FinFort's digital credit analytics knowledge with Corpository's existing offerings enhances Yubi's ability to deliver robust credit analytics solutions to its clientele.
Leadership Transition and Holistic Solutions
As part of the acquisition, Aniket Shah, CEO of Corpository, and Gaurav Kumar have joined FinFort Infotech LLP as designated partners. With their collective experience, products, technology, and industry connections, Yubi and Corpository will guide FinFort towards transitioning from a product-based company addressing specific challenges to a platform-based company offering holistic solutions. Shah will lead FinFort alongside its existing leadership team.
Yubi's Accomplishments and Previous Acquisitions
Yubi has facilitated debt volumes exceeding Rs 1,40,000 crore, serving more than 17,000 enterprises and engaging over 6,200 investors and lenders on its platform. In the past, Yubi has successfully acquired spocto, a collections arm, and Corpository, a full-stack corporate credit analytics company. These strategic acquisitions have further strengthened Yubi's position in the credit industry.