Corporate Debt provider 'Yubi' enlarges it ESOP pool, adds ESOPs worth $29 million
Fintech unicorn Yubi (previously CredAvenue), which offers loans to organizations, has added new ESOP – Employee Stock options for its representatives under its current and new ESOP plans. According to its regulatory filing, which can be accessed through the Registrar of Companies (RoC), the board at Yubi has approved a special resolution to add 22,00,000 employee stock options to its new and existing plan.
This will bring the total pool of ESOPs to 60, 08,920 options. The total number of stock options in Yubi's 2022 ESOP plan has increased by 11, 00,000, bringing the total number to 4,908,920. A separate filing with the RoC reveals that the company has introduced a new 2024 ESOP plan with additional 11, 00,000 options.
The filing also stated that the company is expanding the ESOP pool in an effort to recruit and retain talent. TheKredible estimates that the company's total ESOP plan was $70 million, while the newly added ESOP options are worth approximately $26 million. Yubi turned unicorn in Walk 2022 after a $135 million Series B round drove by Insight Partners, Dragoneer Investment Group, and B Capital Group.
After a secondary sale, its value reached $1.5 billion last year. For those who are unaware, Yubi's platform connects businesses seeking loans with investors and other financial institutions. Vendor and dealer financing, as well as a bonds marketplace with exclusive primary and secondary bonds, are among its solutions.
In July, Yubi directed a 
150 crore debt round for Infra. Market and also took part in an Auxilo debt round. In FY23, the company backed by Vivriti nearly doubled its revenue to R. 328 crore. However, during the same time period, the company's losses increased by more than eightfold to 482 crore as it pursuit of growth. The Bengaluru-based firm is yet to record yearly budget summaries for FY24.
150 crore debt round for Infra. Market and also took part in an Auxilo debt round. In FY23, the company backed by Vivriti nearly doubled its revenue to R. 328 crore. However, during the same time period, the company's losses increased by more than eightfold to 482 crore as it pursuit of growth. The Bengaluru-based firm is yet to record yearly budget summaries for FY24.
