 "BlackSoil raises over Rs 200 cr debt in H1CY24, with 60% from new lenders")
BlackSoil NBFC, an arm of the alternative credit platform BlackSoil, said the firm had raised Rs 208 crore in debt during the first half of the calendar year 2024 (H1CY24) with the total debt raised being pegged at over Rs 1,570 crore.
The firm said about 60 per cent of the total debt funding raised during the first six months of 2024 came from new debt investors.
The company said that it saw diverse investor participation, including high net worth individuals (HNIs), ultra high net worth individuals (UHNIs), family offices, prominent banks, and non-banking financial companies (NBFCs).
“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,” Ankur Bansal, co-founder and director, BlackSoil.
In March, it raised Rs 100 crore in equity funding through a rights issue with participation from existing Indian investors and family offices.
BlackSoil’s portfolio includes sectors such as fintech, agritech, consumer, healthcare, software-as-a-service (SaaS), the internet of things (IoT), and other emerging sectors such as electric vehicles (EVs) and quick commerce.
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Some of its investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.
The company is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors and was founded in 2016.
The BlackSoil Group is a lender for new-age economy businesses that adopts a cash flow-focused underwriting methodology. It offers customised credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across sectors.