BlackSoil, the main entity of BlackSoil Group in the alternative credit space, has secured Rs 100 crore in equity funding through a rights issue. Existing Indian investors and family offices actively participated in this funding round.
With this capital infusion, BlackSoil aims to improve its credit profile and boost its borrowing capacity. Ankur Bansal, the co-founder and director, emphasized the strategic utilization of the funds for these purposes.
“This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space,” Bansal said.
BlackSoil provides alternative credit solutions to various growth companies, financial institutions, non-banking financial companies (NBFCs), and micro, small, and medium enterprises (MSMEs).
Backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors, BlackSoil NBFC has experienced its fourth capital infusion in the past eight years.
This latest round brings the total equity raised to over Rs 250 crore. Additionally, the company has secured debt funding exceeding Rs 1,700 crore from high-net-worth individuals (HNIs), banks, and other NBFCs.
According to the platform, it experienced a 30% year-on-year growth in its assets under management (AUM) last year. The firm’s investments also saw a similar surge, reaching a 30% year-on-year increase. It deployed Rs 1,650 crore across 63 deals while exiting from more than 20 deals within the same year.
BlackSoil has invested in various ventures, including Upstox, Slice, Mobikwik, Udaan, Infra Market, Zetwerk, Oyo Rooms, and Spinny & Purplle.
In 2023, its portfolio companies collectively raised $800 million in equity. Notably, three of its portfolio companies—Yatra, ideaForge, and Cellecor—were listed on the stock exchange in the same year, as stated by the platform.
