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We aim to become the de-facto operating system for anything related to credit: Karanpreet Bindra of Yubi, formerly known as CredAvenue

In an interaction with BestMediaInfo.com, Karanpreet Bindra, Chief Marketing Officer, Yubi, which was formerly known as CredAvenue, revealed the future plans for becoming a ubiquitous de-facto platform for anything related to credit and its goal of expanding internationally

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We aim to become the de-facto operating system for anything related to credit: Karanpreet Bindra of Yubi, formerly known as CredAvenue

After becoming a fintech unicorn and receiving a large Series ‘A’ funding, CredAvenue has rebranded itself as ‘Yubi’. As per Karanpreet Bindra, the fintech’s Chief Marketing Officer, the company is aiming to become a ‘de-facto operating system for anything that is related to credit’.

“Yubi plans to become a ubiquitous infrastructure that powers the debt-ecosystem and a de facto operating system for anything that is related to credit,” Bindra said.

Upon being asked what factors led to the rebranding of CredAvenue, Bindra responded, “This rebranding is a result of different approaches. On the tactical front, it’ll set us apart from the similarly named players present in the Indian fintech industry. On the strategic front, it’ll give us scope for global expansion in addition to our ubiquitous positioning.”

Although the DNA has remained intact, the rebranding was carried out to match the brand’s vision, mission, purpose, strategy, and positioning, both tactically and strategically with its future goals, as per Bindra.

“What started with just two product lines has now grown into five product lines in a span of two years. But after rebranding as Yubi, we also plan to introduce a sixth product line soon,” he added, speaking about the future goals.

When it comes to advertising and marketing CredAvenue was a rather prudent spender. It focused more on targeted advertising in print mediums like business newspapers and magazines, but the company plans to add more mediums in future. “Yubi will resort to digital advertising with the main focus on motion identity and sonic branding,” Bindra said.

“Leveraging human potential is not only Yubi’s new mission but is the sole reason behind its existence,” said Bindra. It not only focuses on being ubiquitously present but on you being the best version of yourself, he added.

Although Yubi claims to not have direct competition as of now, it does face strong competition owing to its multiple product lines. Their main target audience includes both borrowers and lenders.

Bindra also revealed that with its new logo depicting a trio of lenders, borrowers, and consumers, CredAvenue which was earlier based on a B2B2C model with its co-lending product, is also planning to further expand and pay more attention to the B2C segment.

From large and listed companies having an 8–12-digit revenue, to medium and small enterprises that are in dire need of capital, Yubi will cover them all in its borrower landscape. In terms of its lenders, Yubi includes all private sector banks, public sector banks, non-banking financial companies, etc. However, Yubi will only open its doors to the end customer under the B2C segment in the coming years after investing in advertising and brand building and sponsoring sporting events.

For promoting itself in the B2B segment, Yubi mainly focuses on creating high-quality video content, viral marketing and thought leadership. Also, there are future plans to launch Yubi’s flagship event with marquee names from the government, and it will also feature stories of the heroes of the start-up world.

The company will cater to every requirement of borrowers and investors through five rechristened platforms with a potential launch of YubiBuild, the yet-to-be-launched real estate and infrastructure vertical of the company:

1. YubiLoans: Term lending and working capital solutions for enterprises.

2. YubiCo.Lend: For banks and NBFCs for co-lending partnerships. 

3. YubiInvest: Bond Issuance and investment for institutional and retail participants.

4. YubiFlow: A supply chain platform that offers trade financing solutions.

5. YubiPool: End-to-end securitisation and portfolio buyouts.

Info@BestMediaInfo.com

Karanpreet Bindra Yubi CredAvenue
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