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Yubi acquires digital credit analytics company FinFort Infotech

IANS | May 25, 2023 12:55 PM

NEW DELHI: Unified credit marketplace digital platform Yubi on Thursday announced that it has acquired a 100 per cent stake in FinFort Infotech, a digital credit analytics company for retail segment.

As part of the acquisition, for which terms were not disclosed, FinFort will join the Yubi group of companies, collaborating with Yubi's subsidiary, Corpository.

FinFort offers advanced tech infrastructure and data analytics for private data to banks and NBFCs.

With this move, Yubi said it will further solidify its position as a key player in the credit industry while expanding its product suite and enhancing its capabilities.

"This acquisition aligns with our mission of being the ubiquitous layer, a unified credit infrastructure that deepens the debt markets. FinFort's deep knowledge of digital credit analytics, coupled with Corpository's strengths, will enable us to provide comprehensive solutions and services to our customers, " said Gaurav Kumar, Founder and CEO of Yubi.

Corpository is a SaaS-based credit analytics platform for corporate lending, providing access to over 100 public information sources, including MCA, court records, tribunals, and more.

In addition, Kumar and Aniket Shah, CEO of Corpository, joined FinFort Infotech LLP as designated partners.

"By leveraging our experience, products, technology, and industry connections at Yubi and Corpository, we will guide FinFort toward transitioning from a product-based company that addresses specific challenges to a platform-based company that offers holistic solutions, " said Shah, who will now lead FinFort along with its existing leadership team.

Yubi has facilitated debt volumes of over Rs 1, 40, 000 crore with more than 17, 000 enterprises and over 6, 200 investors and lenders on its platform.

It acquired its collections arm, spocto, and full-stack corporate credit analytics company, Corpository, last year.

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