BlackSoil NBFC, the non-banking vertical of alternatives credit platform BlackSoil has raised Rs 100 crore ($12.1 million as per current rates) in a rights issue from its Indian investors and family offices.
The company, which provides credit to new-age fintech companies and smaller traditional financial institutions, has secured the amount form family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac’s Florintree Advisors.
The equity capital injection will help BlackSoil NBFC's boost its credit profile and borrowing capabilities, as the company explores new sectors and forays into new business verticals, a statement said.
"We are thrilled to receive continued support from our investors, which underscores their confidence in our vision and capabilities,” said Ankur Bansal, co-founder and director of BlackSoil.
“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,” he added.
BlackSoil NBFC, which was set up in 2016, also operates a venture debt arm through a SEBI-registered alternative investment fund (AIF). Its portfolio includes companies such as ideaForge, Upstox, Bluestone, Oyo, Udaan, Zetwerk, Spinny, Yatra and Purplle among others.
As of 2023, the group claims to have crossed Rs 5,000 crore in disbursement since its inception.
The non-banking lender has raised Rs 250 crore in equity since inception, with the latest infusion being its fourth equity round since 2016. It has also secured Rs 1,700 crore in debt from high-net-worth individuals, banks and other NBFCs through the years.
"BlackSoil has demonstrated expertise in providing financing solutions
to businesses across diverse sectors,” said Gnanesh (Sunil) Gala, managing director, Navneet Education. “With a strong asset base, this equity round will equip the company to expand assets under management (AUM) in new-age economy sectors.”
