Yubi acquires digital credit analysis company FinFort Infotech
New Delhi, May 25 (IANS) Unified credit marketplace digital platform Yubi announced on Thursday that it has acquired a 100 percent stake in FinFort Infotech, a digital credit analysis company for the retail segment.
As part of the acquisition, the terms of which were not disclosed, FinFort will join the Yubi group of companies, collaborating with Yubi’s subsidiary Corpository.
FinFort offers advanced technological infrastructure and data analytics for private data to banks and NBFCs.
With this move, Yubi says it will further consolidate 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 to be the ubiquitous layer, a unified credit infrastructure that deepens debt markets. FinFort’s deep knowledge of digital credit analytics, coupled with Corpository’s strengths, will enable us to provide solutions and services integral to our clients”. said Gaurav Kumar, founder and CEO of Yubi.
Corpository is a SaaS-based credit analysis platform for corporate loans that provides access to 100+ sources of public information, including MCAs, court records, courts, and more.
In addition, Kumar and Aniket Shah, CEO of Corpository, have joined FinFort Infotech LLP as named partners.
“By leveraging our experience, products, technology and industry connections at Yubi and Corpository, we will guide FinFort in transitioning from a product-based company that addresses specific challenges to a platform-based company that offers holistic solutions,” said Shah, who now he will lead FinFort alongside his existing leadership team.
Yubi has facilitated debt volumes of over Rs 140,000 crore with over 17,000 companies and over 6,200 investors and lenders on its platform.
It acquired its collections arm, spocto, and full-stack corporate credit research firm, Corpository, last year.