BlackSoil NBFC Raises over ₹200 Crore Debt in H1CY24, with 60% from New Lenders
National, July 19, 2024: BlackSoil NBFC, the flagship arm of BlackSoil Group, an alternative credit platform, announced today that it raised ₹208 Crore debt in the first half of the calendar year 2024. Notably, 60% of this funding came from new debt investors, underscoring the Company’s expanding lender base. This achievement marks a robust 30% year-on-year growth in debt raise, bringing BlackSoil’s total debt raise to over ₹1,570 Crore as of June 30, 2024.
Key Highlights:
- 60% of the funds raised from new lenders
- Over 30% year-on-year growth in debt fundraise
- Diverse investor participation, including HNIs, UHNIs, Family Offices, prominent banks, and NBFCs
- Total debt raise reached over ₹1,570 Crore by the end of June 30, 2024
- Recently raised fresh ₹100 Crore equity through a rights issue where all investors participated
- A growing lender network comprising nine banks and five NBFCs
- Unique 250+ HNI families
BlackSoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors. The Company has significantly expanded its lender network, including several banks and NBFCs, enhancing its borrowing capabilities.
Ankur Bansal, Co-Founder and Director at BlackSoil, stated, “This substantial debt raise, particularly the 60% from new investors, validates our business model and emphasises the trust we have built in the alternative credit space. 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”.
The Group has solidified its position as a preferred lender for new-age economy businesses, employing a sector-agnostic approach and cash flow-focused underwriting methodology. It offers customised credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across sectors.
Investment Strategy:
BlackSoil’s agile investment strategy leverages in-house expertise to align with the evolving startup ecosystem, making a significant impact. Its investment criteria prioritise strong unit economics, predictable revenue growth, and robust cash flows.
Sector Focus:
BlackSoil maintains a diversified portfolio spanning a wide range of sectors, including FinTech/FinServ, AgriTech, B2B, Consumer, Healthcare, SaaS, and IoT. It has also strategically expanded into emerging sectors like EV, Quick Commerce, Hospitality, and Online Travel Aggregators. Its noteworthy investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celebal Technologies and JCB Salons.
“Our sector-agnostic approach aims to mitigate risks through diversification and granularity, ensuring rigorous monitoring from investment to final repayment,” Bansal added.
With its strong track record of delivering stable returns and potential upside, BlackSoil continues to instil confidence in its investment prospect while adapting to market trends and opportunities.
