Business
BlackSoil NBFC Raises Over ₹200 Crore Debt in H1CY24, 60% from New Lenders
BlackSoil NBFC, the farm of the alternative credit platform BlackSoil Group, has successfully raised ₹208 crore in debt during the first half of 2024. Notably, 60% of this funding came from new debt investors, reflecting the company’s expanding lender base. This achievement marks a robust 30% year-on-year growth in debt fundraising, bringing BlackSoil’s total debt raise to over ₹1,570 crore as of June 30, 2024.
Key Highlights:
60% of funds raised from new lenders
Over 30% year-on-year growth in debt fundraising
Diverse investor participation, including HNIs, UHNIs, Family Offices, prominent banks, and NBFCs
Total debt raise reached over ₹1,570 crore by June 30, 2024
Recently raised ₹100 crore equity through a rights issue with full investor participation
Growing lender network comprising nine banks and five NBFCs
Unique 250+ HNI families
BlackSoil is supported by prominent investors and family offices, including Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors, led by Mathew Cyriac. The company has significantly expanded its lender network, enhancing its borrowing capabilities.
Ankur Bansal, Co-Founder and Director at BlackSoil, stated, “This substantial debt raise, particularly the 60% from new investors, validates our business model and emphasizes the trust we have built in the alternative credit space. It is a testament to our robust credit profile and expanding market presence. This milestone empowers us to offer even more innovative and tailored financial solutions to India’s high-growth sectors, reinforcing our commitment to bridging the credit gap for new-age businesses and fostering entrepreneurship nationwide.”
BlackSoil has solidified its position as a preferred lender for new-age economy businesses. Employing a sector-agnostic approach and cash flow-focused underwriting methodology, it offers customized credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across various sectors.
BlackSoil maintains a diversified portfolio across FinTech/FinServ, AgriTech, B2B, Consumer, Healthcare, SaaS, and IoT sectors. It has strategically expanded into emerging sectors like EV, Quick Commerce, Hospitality, and Online Travel Aggregators. Noteworthy investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celebal Technologies, and JCB Salons.
“Our sector-agnostic approach aims to mitigate risks through diversification and granularity, ensuring rigorous monitoring from investment to final repayment,” Bansal added.