BlackSoil NBFC, a leading alternative credit platform and the flagship arm of BlackSoil Group, has announced a significant equity infusion of ₹100 crore from its existing Indian investors and family offices through a rights issue. This capital injection, the fourth within eight years, brings the total equity raise for BlackSoil NBFC to approximately ₹250+ crore. The funding round saw participation from all existing marquee investors, including the family offices of Allcargo Logistics and Navneet Education, among others.
The successful completion of the rights issue demonstrates the investors’ confidence in BlackSoil NBFC’s vision and growth trajectory. The funds raised will be used to improve the company’s credit profile and enhance its borrowing capabilities, supporting its continued growth and expansion in the alternative credit space.
BlackSoil NBFC provides customised alternative credit solutions to growth companies, financial institutions, NBFCs, and MSMEs across diverse sectors. With a focus on new-age economy businesses, the company has built a high-quality loan book and has surpassed ₹5,000 crore in disbursements across 214 deals by December 2023.
Commenting on the funding round, Mr. Ankur Bansal, Co-founder & Director of BlackSoil, said, “We are thrilled to receive continued support from our esteemed investors. This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space. We remain committed to delivering value to our stakeholders while supporting the growth aspirations of our clients.”
Mr. Gnanesh (Sunil) Gala, Managing Director of Navneet Education and an investor in BlackSoil, expressed his support for the company’s mission, stating, “BlackSoil has demonstrated exceptional expertise in providing innovative financing solutions to businesses across diverse sectors. This equity round will equip the company to expand its assets under management (AUM) in new-age economy sectors and explore new business verticals, driving sustainable growth and empowering the Indian economy.”
BlackSoil NBFC’s funding strength is reflected in its portfolio companies collectively raising equity of $800 million in CY23. Three of its portfolio companies, including Yatra, ideaForge, and Cellecor, were also listed on the exchanges in the same year. Additionally, BlackSoil recently launched its supply chain financing vertical, SaralSCF, as part of its strategic expansion plan, disbursing over ₹1,500 crore and onboarding more than 110 Anchor Partners.
The equity infusion from existing investors underscores BlackSoil NBFC’s strong position in the alternative credit space and its commitment to supporting the growth of new-age economy businesses in India.
