Fintech unicorn Yubi (formerly CredAvenue), known for providing business loans, has expanded its employee stock option (ESOP) offerings under both its existing and new ESOP plans. According to a special resolution approved by Yubi’s board, the company has added 2.2 million stock options to its ESOP pool, increasing the total number to 6,008,920 options, as per regulatory filings from the Registrar of Companies (RoC).
Specifically, Yubi has allocated 1.1 million new stock options to its 2022 ESOP plan, raising the total to 4,908,920 options. Additionally, the company has introduced a new 2024 ESOP plan, adding another 1.1 million options, detailed in a separate RoC filing.
The expansion of the ESOP pool is aimed at attracting and retaining top talent within the company. According to estimates by TheKredible, the newly added ESOP options are valued at approximately $26 million, bringing the total value of Yubi’s ESOP plan to $70 million.
Yubi achieved unicorn status in March 2022 following a $135 million Series B funding round led by Insight Partners, Dragoneer Investment Group, and B Capital Group. The company’s valuation reached $1.5 billion after a secondary sale last year.
Yubi’s platform connects businesses seeking loans with financial institutions and investors. Its services include vendor and dealer financing, as well as a marketplace for primary and secondary bonds. In July, Yubi led a ₹150 crore debt round for Infra Market and participated in a debt round for Auxilo.
Backed by Vivriti, Yubi nearly doubled its revenue to ₹328 crore in FY23. However, in its drive for growth, the company’s losses increased more than eight-fold to ₹482 crore during the same period. The Bengaluru-based firm has yet to file its annual financial statements for FY24.
