“By humanising the brand, we'll be able to bridge trust deficit around data security”

CredAvenue, India’s largest debt marketplace, has rebranded itself as Yubi. The new brand captures the company’s long-term ambition of being ubiquitous to the debt ecosystem, an invisible infrastructure layer powering credit globally and ensuring frictionless access to capital.

The new brand will reflect in every customer touchpoint through an overhaul that spans its website, social media handles and existing product lines. Yubi will deliver a richer, more consistent brand experience in line with its promise of helping its customers to ‘Go Get Great’.

Speaking to Adgully for their column Talking Insights, Karanpreet Bindra, Chief Marketing Officer, Yubi, speaks at length about the rebranding exercise, how the company will provide a richer and more consistent brand experience to their customers, as well as establishing themselves as an enabler institution to win the trust of the larger business community.

Rebranding any company is a big step forward. What’s the purpose and objective behind this rebranding? Have you redefined the vision and mission of your company to resonate with the new brand identity?

The primary objective behind the rebranding exercise was to position the brand on a global platform, secure the trust of larger businesses and establish ourselves as a company that is ubiquitous to the debt ecosystem. We are set to expand outside India in the MENA region by opening offices in Dubai soon. With a captivating and iconic name, we hope to build an excellent brand recall among our many stakeholders and emphasise our role as an enabler in the debt ecosystem domestically as well as internationally.

Our core focus, vision and mission as a brand remain the same. Yubi will provide a richer, more consistent brand experience in accordance with our mission to enable customers to ‘Go Get Great’.

What is the thought process behind the new brand identity? Has any research been carried out with your stakeholders to cull out some insights for creating this new brand identity?

The aim was to stand out and differentiate the brand and its unique offerings. Our products are what set us apart from any other company in the running, and we wanted a name that is singular and has an iconic brand recall.

Our conversations with our customers and stakeholders are a massive motivation behind the rebranding. We believe that by humanising the brand, we will be able to bridge the trust deficit around data security, which is currently present in the ecosystem that we operate in. This will also help us continue to work on growing our platform, which thrives on fresh opportunities for both people and businesses. At the same time, we want to be a unique brand with a unique identity and win the trust of the larger business community.

What will be the role of the new brand identity? How will it benefit the company?

The company’s long-term aims will be captured in the new brand identity, and its function will be to act as a facilitator for the business. The newly built brand identity will help build trust amongst the customers and create an infinite amount of opportunities for businesses. The new brand identity will also ensure that the company will make a name for itself on a global scale. Yubi has grown exponentially in the past six months, and it may even evolve beyond credit-giving platforms as businesses will learn about us and carry us with them in their entrepreneurial ventures.

The new brand identity will also help us ramp up our hiring efforts across all verticals, including data science, product & design and engineering, as we grow and enter new markets.

You must have worked with a design agency for your brand identity. What was the brief given to them? How did they translate the brief into a winning design?

We have partnered with Venturethree, a global branding company, in order to create a disruptive brand focused on people and connections, ready for the new era of lending and possibilities.

The brief was to form an identity that could redefine how people from all backgrounds can access capital within the Indian market and help drive business growth without the barriers that we’ve seen in the past.

Together with the team of Venturethree, we have curated a brand that focuses on the power of connection, bringing much-needed warmth and humanity to the market. We want to present ourselves to the world as the largest debt platform in India. With a name like Yubi, we want to create excellent brand recall through the new captivating name. While our core focus as a brand remains the same, we are changing the way we will be perceived in the global market.

How do you plan to reach your target audience with your fresh brand identity? Any media strategy chalked out to inform about the new brand identity?

With the new brand identity, the company is preparing to get even more entrenched in the debt ecosystem. The media strategy will be devised focusing on the change seen across the company. Every customer touchpoint, including our social media handles, our website and the existing product lines, will also be revamped.

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