Product: Yubi Flow
About Eskay Wires:
Bengaluru-based Eskay Wires Manufacturing Company is a leader in the wire manufacturing industry that produces all essential wires and cables in various specifications.
Over the last 38 years, the company has focused on ensuring top-notch quality in their products, and boasts of an elite clientele of various public sector and defense sector companies.
Due to the highly cost-intensive nature of the business, Eskay Wires Manufacturing Company was facing a shortage of working capital which hindered them from fulfilling their orders. Here are the top 3 challenges the company was facing in its quest to service its clients better:
- The company had exhausted the last of their credit limit with their existing banking partners. Engaging with a new banking partner at this juncture was extremely time-consuming, exhausting, and a long-drawn process.
- Eskay Wires Manufacturing Company was in urgent need of expanding their operations and required immediate funding of Rs 50 lakh. This was right when the pandemic struck, and the company urgently needed working capital.
- The company lacked an in-house financial expert who had the network to help the company secure the right deal.
To solve its working capital shortage, the company partnered with Yubi Flow to overcome its challenges:
- The company started its credit-raising journey by coming onboard Yubi Flow with the quickest paperwork with a superfast turnaround time. On Yubi Flow, Eskay Wires Manufacturing Company got access to multiple investors that helped the company secure funds in a secure and straightforward process.
- Yubi Flow introduced the company to another investor (Hero FinCorp) to help them overcome the shortage of working capital.
Key results/ impact:
- The company was able to secure funds for its working capital needs in minimal time, which gave Eskay Wires Manufacturing Company the bandwidth to work on its growth strategies.
- Within a week of coming onboard Yubi Flow, Esskay Wires Manufacturing Company was able to secure deals worth Rs 5 crore.
- Eskay Wires Manufacturing Company succeeded in purchasing additional raw materials and making timely payments to its suppliers, and meeting the requirements of its buyers.
Established in 2020 by Founder and CEO, Gaurav Kumar, Yubi is the world’s first possibility platform, powering the discovery, execution and fulfillment of credit. It is a unified credit platform with a comprehensive product suite catering to every stage of the debt lifecycle. It is a global pioneer that aims to revolutionize and deepen debt markets and is the only one of its kind in the world to provide a comprehensive debt product suite to all its borrowers.
The organization has a portfolio of 8 platforms catering to every requirement of both borrowers and investors –
- Yubi Loans: India’s leading digitized corporate lending platform for banks and enterprises, designed to automate all corporate loan needs – onboarding, discovery, credit evaluation and facilitating disbursals 5 times faster than ever.
- Yubi Co.Lend: Largest co-lending platform in India, trusted by the lending ecosystem to discover, go live and collaborate with multiple partners with quick one-time API integration.
- Yubi Invest: India’s leading Fixed Income Investment platform for bond issuance and investment for institutional and retail investors.
- Yubi Flow: A fully integrated & easy-to-use supply chain finance platform that offers trade financing solutions to lenders and corporates to strengthen their channel partner ecosystem.
- Yubi Pools: End-to-end securitisation management system for Banks & NBFCs that brings unparalleled efficiencies and a data-driven approach to ABS deal-making.
- Yubi Build: A one-stop platform connecting borrowers from the real estate and infrastructure sector with multiple lenders that offers discovery, execution, support and advanced monitoring modules.
In addition, Yubi’s collections arm, spocto, is a global risk mitigation platform and pioneer in AI-enabled recovery infrastructure. Launched by Sumeet Srivastava and Puja Srivastava in 2017, the platform enhances collection mechanisms, providing banks and consumers with advanced repayment opportunities. Spocto has processed loans worth USD 25 billion through the collection of 35 million accounts in FY22 and is establishing its presence in the MENA market with its first office outside of India, headquartered at the Dubai International Financial Centre (DIFC).
Corpository (also Yubi company), is a full-stack corporate credit underwriting company. The company also offers portfolio management and monitoring services as a SaaS offering to its borrowers and lenders.
Yubi currently has over 3,000+ Corporates and 750+ Lenders and has facilitated debt volumes of over INR 100,000 Crores. Yubi is an organisation on a mission to deepen and power the USD 120 trillion global enterprise debt market to unlock a GDP multiplier and create massive economic value.
To know more, visit www.go-yubi.com