BlackSoil's FY24 disbursement grows 40%; firm exited 18 deals, entered 36

The company's year-on-year disbursement grew by 110%, and its Assets Under Management (AUM) increased by nearly 50 per cent year-on-year

For alternative credit platform BlackSoil, the Indian startup story has been a journey of steady growth. The firm’s disbursement for FY24 rose 40 per cent at $118 million. More significantly it exited from 18 deals and made strategic investments in 36 new deals.

The growth story is also witnessed in the fourth quarter of FY24, wherein BlackSoil deployed $49 million (around Rs 391 crore) across 11 new deals and exited from four portfolio firms.

The company’s year-on-year disbursement grew by 110 per cent, and its Assets Under Management (AUM) increased by nearly 50 per cent year-on-year.

Ankur Bansal, Co-Founder & Director of BlackSoil, said, “Our prudent investment practices fortify our market standing, underscored by successful exits and strategic investments. As we navigate the landscape of FY25, we remain steadfast in our commitment to driving value and maintaining our upward trajectory.”

 

Importantly, 30 of its investees raised a consolidated capital of $680 million in FY24. Several of BlackSoil’s existing portfolio companies achieved noteworthy milestones, with nine investees raising a total capital of over $100 million in Q4FY24.

Notably, approximately 90 per cent of its current portfolio companies are EBITDA positive, said the company in a statement.

In terms of sectoral focus, in Q4FY24, Fintech accounted for 37 per cent of its total investments, followed by SaaS/ Deeptech/ IoT at 18 per cent.
 

During this period, BlackSoil made investments in Fintech companies such as Rupeek, Werize and OTO. It also exited from prominent companies, such as Freight Tiger, Homeville Group and Koye Pharmaceuticals, where it made debt investments.