Access to credit is fundamental to the growth of any business. Founded in 2020 by Gaurav Kumar, unified credit platform Yubi (formerly CredAvenue) helps businesses and enterprises secure debt from lenders and built India’s most comprehensive technology stack to meet businesses’ complete debt cycle from origination to collections.
Realising the power to be a transformative platform and to unlock true potential of Indian enterprises, CredAvenue rebranded itself as Yubi in June 2022, to become a ubiquitous layer that fuels the credit infrastructure of the country. In just a span of two years, Yubi grew in scale, size and mission to become the world’s first unified credit platform powering end-to-end discovery, execution and fulfilment of the debt lifecycle.
Mathangi Sri, Chief Data Officer, Yubi; Harshwardhan Mittal, Chief Technology Officer, Yubi along with Vivek Murugesan, Vice President, ML Engineering, Yubi spoke about how Yubi is on a mission to create a transparent, prudent, and trusted finance solution and how collaboration with AWS is helping them unlock endless possibilities.
Building the debt infrastructure of India
Backed by marquee investors such as Sequoia, Lightspeed Ventures, B Capital Group etc, Yubi aims to power the USD 120 trillion global enterprise debt market to unlock a GDP multiplier and create massive economic value.
“We have 3,000+ corporate customers and we are supported by 750+ lenders on the platform. So far, we have facilitated debt volumes of over INR 100,000 crores,” reveals Harsh.
Yubi is a one-of-a-kind marketplace that caters to both borrowers and investors. Some of the products under its portfolio include Yubi Loans, Yubi Co.Lend, Yubi Invest, Yubi Flow, Yubi Pools, Yubi Build, spocto, and Corpository. From automating corporate loan needs to offering a co-lending platform, fixed income instruments to enabling an AI integrated recovery infrastructure, each of the solutions contribute to the debt borrowing/lending infrastructure in a significant manner.
AWS – a key partner
Harsh describes AWS as a key partner in their scaling journey. “We use a wide range of AWS services like Amazon ECS, AWS Fargate, Amazon RDS, Amazon Aurora, Amazon Cloudwatch etc. for our application stack,” he says.
In Yubi’s mission to change the debt landscape of India, data plays a critical role as the company has large volumes to ingest from both internal and external sources. “Through Amazon Data Lake we collect data from both public and private sources which is then analysed on multiple models deployed on Amazon Sagemaker. The synthesised data is then presented using Amazon Quicksight in form of visuals and reports,” shares Harsh.
Leveraging AI/ML to drive business impact
Mathangi Sri, Chief Data officer at Yubi explains how AI/ML takes centrestage when it comes to simplifying the lifecycle of a credit transaction. “From discovery between lenders and borrowers to implementing transitions, post monitoring to final collections, we leverage AI/ML to implement end-to-end execution for our customers,” says Mathangi.
She believes AWS has been an important strategic partner in helping Yubi make the entire experience for customers frictionless. “As we use Amazon Sagemaker, it drives down the TAT for ML models to go live. Moreover, it allows our data scientists to be more productive in terms of learning and exploring ML models rather than worrying about the operations,” she adds.
AWS solution architects and other service specialty teams have offered constant support in helping team Yubi build seamless models. “We work closely with AWS teams from across the functions and they have been a great help for us to unblock various issues while training and deploying all our models,” shares Vivek.
Yubi is on a mission to build a world-class debt marketplace to enable enterprises realise their maximum potential. The journey of building such a solution is powered by AI/ML capabilities of AWS infrastructure and components.