Debt marketplace Yubi partners with SBI
September 28, 2022
Yubi Co.Lend allows lenders to discover partners including non-banking financial companies (NBFCs), housing finance companies (HFCs) and fintechs, and collaborate with them to jointly disburse loans. The marketplace has facilitated the disbursal of over ₹5,000 crore loans so far, registering more than 80,000 transactions per day, the company said.
Yubi said it will also build, manage and monitor SBI’s co-lending portfolio and ensure compliance as well. “This partnership has the potential to unlock $1 trillion in capital for Priority Sector Lending in Tier-2,3 and 4 cities, small enterprises, and farmers, which will go towards scaling their businesses, increased earning power, and the ability to create value for their communities and the country at large,” said Gaurav Kumar, Founder and CEO, Yubi.
Initiated by the Reserve Bank of India, co-lending provides a framework for collaboration between two financial institutions including a bank and an NBFC to jointly fund credit disbursals.