Alternative credit platform BlackSoil has secured over $25 million through its diverse debt products.
The latest funding comes from banks, family offices, corporate treasuries, and high-net-worth individuals, said the company in a press release. The recent capital raise is in addition to the $35 million that BlackSoil raised during the first half of FY23.
“We witnessed strong interest from investors and are confident that our robust portfolio performance in the current funding environment will continue to attract investors in the years to come. The positive outlook reflects BlackSoil’s dedication to providing reliable and effective alternative financing solutions to the Indian startup and growth company ecosystem,” said Ankur Bansal, the Co-Founder of BlackSoil.
It has made investments across a diverse set of sectors, including battery swapping (Battery Smart), OTA travel (Yatra.com), discount broking (Upstox), healthtech (HealthPlix), deeptech (Tonbo Imaging), and fintech unicorn (MobiKwik).
Read also: BlackSoil crosses $300-million milestone in venture debt deals
According to the company, the rise of alternative credit has become a crucial factor in enabling growth for Indian startups, and it intends to remain a preferred lender to support their expansion. In 2022, the startup ecosystem faced various challenges, including geopolitical uncertainty and escalating interest rates, it added.
The company’s investing approach involves investing in sustainable growth companies and focusing on structuring the opportunities in a risk-adjusted manner.
The alternative credit platform has deployed $270 million across 135 deals and has an AUM of more than $90 million. The portfolio includes notable investments in 9 unicorns such as Upstox, Udaan, Zetwerk, OYO Rooms, and Spinny, and other prominent companies like Curefoods.