BlackSoil NBFC raises $12M in equity capital from existing backers

BlackSoil NBFC, an entity within the BlackSoil Group, has raised Rs 100 crore ($12 million) through a rights issue from its existing Indian investors and family offices.

The funding will enhance the company's credit profile, amplifying its borrowing capabilities and fostering growth. The infusion of capital marks the fourth such investment in BlackSoil NBFC over an eight-year span, cumulatively reaching over Rs 250 crore ($30 million).

Who are the investors?

The firm is backed by notable investors and family offices, including those associated with Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors, led by Mathew Cyriac.

The firm provides alternative credit solutions across various sectors, benefiting growth companies, financial institutions, NBFCs, and MSMEs.

Ankur Bansal, Co-founder and Director of BlackSoil, expressed optimism about the funding's impact, stating, "This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space."

A record of achievement

So far, BlackSoil Group  has disbursed over Rs 5,000 crore (over $600 million) across 214 deals by December 2023. ideaForge, Upstox, Bluestone, OYO, Railyatri are some of its portfolio companies. The past year alone witnessed a 30% growth in AUM, with Rs 1650 crore (nearly $200 million) deployed across 63 deals and over 20 successful exits, as per media reports.

BlackSoil SaralSCF

In a bid to cater to the evolving needs of new economy businesses, BlackSoil recently launched SaralSCF, a supply chain financing vertical. This vertical has disbursed over Rs 1,500 crore and partnered with more than 110 anchor partners.

What did investors say about Blacksoil NBFC?

BlackSoil investor Gnanesh (Sunil) Gala, Managing Director, Navneet Education, added, " With a strong asset base, this equity round will equip the Company to expand our assets under management (AUM) in new-age economy sectors. Its extensive deal experience provides valuable business performance data, enhancing its credit assessment capabilities as it grows further, exploring new sectors and foraying into new business verticals. I proudly support their mission of driving sustainable growth and empowering the Indian economy.".

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