BlackSoil NBFC Secures INR 100 Cr To Boost Its Credit Playbook

Alternative credit platform BlackSoil NBFC has raised equity of INR 100 Cr from its existing Indian investors and family offices through a rights issue.

The fresh capital will improve BlackSoil NBFC’s credit profile and boost its borrowing capabilities, it said in a statement.

The latest round marks BlackSoil NBFC’s fourth capital infusion within eight years, bringing its total equity raise to over INR 250 Cr. Additionally, it has secured debt financing of over INR 1,700 Cr from HNIs, banks and other NBFCs.

Founded in 2016, BlackSoil is an alternative credit platform comprising an NBFC and AIF. It provides customised alternative credit solutions to growth companies, financial institutions, NBFCs and MSMEs across diverse sectors.

BlackSoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors.

“This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space. While supporting the growth aspirations of our clients, we are committed to delivering value to our stakeholders,” said Ankur Bansal, cofounder and director of BlackSoil.

At the group level, it has surpassed INR 5,000 Cr disbursement across 214 deals by December 2023. It counts ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods as among its portfolio companies.

BlackSoil claims to have logged AUM growth of around 30% YoY in CY 2023. With around 30% YoY increase in investment, it deployed INR 1650 Cr across 63 deals and exited from over 20 deals.

Last year, BlackSoil raised $25 Mn in funding from multiple banks, family offices, corporate treasuries, and high-net-worth individuals. The debt firm raised the capital through its various debt products.

Back in 2022, BlackSoil raised INR 250 Cr (around $30 Mn) debt funding from family offices, UHNIs/HNIs and investment institutions to target mid and growth-stage startups via its debt products.

BlackSoil earlier said its portfolio investment reached more than $30 Mn in the third quarter of FY24, a 35 per cent growth (year-on-year). The VC firm exited six deals and strategically invested in six new deals in Q3 FY24. In the nine months ended in December 2023, BlackSoil achieved a total portfolio deployment of more than $110 Mn.

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