BlackSoil NBFC Raises Rs 100 Crore to Enhance Credit Profile

The flagship company of the alternative lending platform BlackSoil Group, BlackSoil NBFC, raised Rs 100 crore in equity through a rights issue on Monday from its current Indian investors and family offices. According to a statement from BlackSoil, the equity infusion will strengthen the credit profile and boost borrowing capacities.

Growth firms including Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods are among the investments in BlackSoil’s portfolio. BlackSoil NBFC has raised over Rs 250 crore in equity through its four capital infusions in the last eight years, including this most recent investment round.

Ankur Bansal, co-founder and director of BlackSoil, stated, “With this funding, we will be able to further solidify our position as a leading player in the alternative credit space and accelerate our growth trajectory.” To further strengthen its financial position, the company has obtained debt funding of over Rs 1,700 crore from banks, other NBFCs, and high-net-worth individuals.

Through 214 deals, the company has disbursed more than Rs 5,000 crore at the group level until December 2023. As part of its strategic expansion plan to provide tailored financing solutions to new economy enterprises, SaralSCF recently announced SaralSCF, its supply chain financing vertical. More than 110 “anchor partners” have been boarded by SaralSCF, which has now disbursed more than Rs 1,500 crore.

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Gnanesh (Sunil) Gala, Managing Director of Navneet Education and BlackSoil investor, said: “With a strong asset base, this equity round will equip the company to expand our assets under management (AUM) in new-age economy sectors.”