BlackSoil raises over Rs 200 crore in debt in H1CY24, 60% of which comes from new lenders
BlackSoil NBFC, a unit of alternative lending platform BlackSoil, reported that the company raised Rs 208 crore in debt in the first half of calendar year 2024 (H1CY24), with total debt raised estimated at over Rs 1,570 crore.
According to the company, approximately 60 percent of the total debt financing raised in the first six months of 2024 came from new debt investors.
The company said a wide range of investors participated, including high net worth individuals (HNIs), ultra-high net worth individuals (UHNIs), family offices, leading banks and non-banking financial companies (NBFCs).
“It is a testament to our robust credit profile and growing market position. This milestone enables us to provide even more innovative and tailor-made financial solutions to India’s fast-growing sectors, reinforcing our commitment to closing the credit gap for new businesses and fostering entrepreneurship across the country,” said Ankur Bansal, Co-Founder and Managing Director, BlackSoil.
In March, the company raised Rs 100 crore in equity capital through a rights issue in which existing Indian investors and family offices participated.
BlackSoil’s portfolio spans sectors such as fintech, agritech, consumer products, healthcare, software-as-a-service (SaaS), the Internet of Things (IoT), and other emerging sectors such as electric vehicles (EVs) and high-speed trading.
Some of the investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purple and Curefoods.
The company is backed by investors and family offices from Allcargo Logistics, Navneet Education, Mahavir Agency and Florintree Advisors led by Mathew Cyriac and was founded in 2016.
The BlackSoil Group is a new economy corporate lender with a cash flow oriented underwriting methodology. It offers customized credit solutions to emerging corporates, financial institutions, NBFCs and SMEs across all sectors.
First print: Jul 22, 2024 | 7:23 PM IST