Alternative credit platform BlackSoil, the flagship arm of BlackSoil Group, has raised ₹208 crore debt in the first half of the calendar year 2024.
Notably, 60% of this funding came from new debt investors, including HNIs, UHNIs, family offices, prominent banks, and NBFCs.
This 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.
BlackSoil offers alternative credit solutions to various types of growth companies, financial institutions, non-banking financial companies (NBFCs), and micro, small, and medium enterprises (MSMEs).
It is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors.
“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,” said Ankur Bansal, Co-Founder and Director at BlackSoil.
BlackSoil has a diversified portfolio spanning a wide range of sectors, including fintech, 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 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.
Recently, Blacksoil had raised ₹100 crore in equity funding through a rights issue, with participation from its existing Indian investors and family offices.