Caspian Debt rebrands as Udhyam Debt under BlackSoil; focuses on MSME lending

Caspian Debt has been rebranded as Udhyam Debt under the BlackSoil Capital banner, marking a new phase for the platform as it deepens its focus on financing India’s micro, small and medium enterprises (MSMEs).

Udhyam Debt is BlackSoil Capital’s MSME-focused financing division. It provides customised and flexible credit solutions to enterprises, especially those operating in underserved and capital-constrained segments.

The firm has begun with Rs 35 crore deployments across five new emerging MSME businesses.

Sai Pramod, VP, Investment, BlackSoil Capital, said, “MSMEs have always been central to BlackSoil’s credit philosophy. With Udhyam Debt, we are doubling down on that commitment, combining Caspian’s deep MSME underwriting experience with BlackSoil’s scale and risk discipline. These initial deployments set the tone for how we intend to operate; small-ticket, high-conviction lending to businesses that are resilient, well-governed, and ready to scale.”

The five deployments include Freshbus, an EV-led urban mobility platform; InPrime Finserv, focused on priority sector lending to underserved segments; Neeman’s, a sustainable consumer footwear brand; Kreedo, which transforms early education in school; and Eeki, a sustainable agritech company.

Established in 2016, BlackSoil is an alternative credit platform comprising an RBI-registered systemically important NBFC and a SEBI-registered AIF. It provides alternative credit to Micro, Small and Medium Enterprises (MSMEs), emerging corporates, financial institutions, and also offers supply chain financing solutions.