Exclusive: Fintech unicorn Yubi adds fresh ESOPs worth $26 Mn

Fintech unicorn Yubi (formerly CredAvenue), which provides loans to businesses, has added fresh employee stock option (ESOP) options for its employees under its existing and new ESOP plans.

The board at Yubi has approved a special resolution to add 22,00,000 employee stock options to its new and existing plan, bringing the total ESOP pool to 60,08,920 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows.

Yubi has added 11,00,000 new stock options to its existing 2022 ESOP plan, bringing the total to 4,908,920 options. The company has introduced a new 2024 ESOP plan with another 11,00,000 options, a separate filing with the RoC shows.

The filing further added that expanding the ESOP pool is an attempt to attract and retain talents working with the company. According to TheKredible’s estimates, the newly added ESOP options are worth around $26 million while the company’s total ESOP plan stood at $70 million.

Yubi turned unicorn in March 2022 after a $135 million Series B round led by Insight Partners, Dragoneer Investment Group, and B Capital Group. Last year, its valuation touched $1.5 billion after secondary sale.

For the uninitiated, Yubi’s platform connects businesses seeking loans with financial institutions and other investors. Its solutions include vendor and dealer financing, and a bonds marketplace that provides access to exclusive primary and secondary bonds.

In July, Yubi led a Rs 150 crore debt round for Infra. Market and also participated in a debt round for Auxilo. Entrackr exclusively reported both developments.

The Vivriti-backed company almost doubled its revenue to Rs 328 crore in FY23. However, in its pursuit of growth, the firm's losses spiked more than eight-fold to Rs 482 crore during the same period. The  Bengaluru-based firm is yet to file annual financial statements for FY24.