Chennai-based debt marketplace Yubi on Wednesday announced that its corporate lending platform ‘Yubi Loans’ has clocked 200 per cent year-on-year growth in value of transactions in FY22.
The platform, which has over 250 lenders and more than 3,000 borrowers, has registered transactions worth more than ₹10,000 crore across 30 major sectors, the company said in a press release.
“The Micro, Small and Medium Enterprise (MSME) sector is undoubtedly the backbone of the Indian economy. Yet, over 50 million enterprises in India today have little to no access to formal credit. At Yubi, we believe that getting prudent capital is the right of every business, and technology is the only way forward to help us reach that scale,” Gaurav Kumar, Founder & CEO of Yubi, said in the release.
Yubi Loans has built a lending infrastructure for banks to get access to thousands of enterprises through our AI/ML-based match-making algorithms.
“Banks have started digitising complex procedures like credit underwriting and appraisal to speed up loan disbursal, which is one way that SME lending is embracing digitalisation. Yubi Loans acts as an operating system for banks to assess, lower risks, and monitor a large number of enterprises on a real-time basis,” Aniket Deshpande, Chief Business Officer, Yubi Loans, was quoted in the release.