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  • Moneycontrol

Co-lending platform Yubi records 250% growth in FY23 transaction volume

Credit and finance for MSMEs: Co-lending marketplace Yubi Co.Lend on Tuesday said it has recorded over 3.5 million transactions in the financial year 2022-23 with 375 per cent year-on-year (YoY) growth in its gross transaction value and 250 per cent in volume. Secured SME loans and unsecured SME loans grew by 290 per cent and 158 per cent respectively in Q4 as compared to Q3 FY23. Co-lending as a model has gained momentum in the country as it allows banks to diversify their portfolios, and non-banking financial companies (NBFCs) to access cheaper funding sources leading to lower risk exposure and eventually reduced cost of funds.

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