Get All Access for $5/mo

Alternative Credit Platform BlackSoil NBFC Secures INR 100 Cr from Existing Investors The Mumbai-based firm plans to use the equity infusion to improve BlackSoil NBFC's credit profile and increase its borrowing capabilities.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ankur Bansal, Co-founder and Director of BlackSoil

Alternative credit platform BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised equity of INR 100 crore from its existing Indian investors and family offices through a rights issue.

According to the official release, the capital injection will improve BlackSoil NBFC's credit profile and boost its borrowing capabilities, supercharging the Company's growth.

Investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors, led by Mathew Cyriac, support BlackSoil.

With its most recent investment round, BlackSoil NBFC has raised over INR 250 crore in equity, its fourth capital infusion in the last eight years. To further strengthen its financial position, it has also obtained debt funding of over INR 1,700 crore from banks, HNIs, and other NBFCs.

Ankur Bansal, Co-founder and Director of BlackSoil, said, "This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space. While supporting the growth aspirations of our clients, we are committed to delivering value to our stakeholders".

Established in 2016 by Mohinder Pal Bansal and Ankur Bansal, BlackSoil provides customised alternative credit solutions to growth companies, financial institutions, NBFCs and MSMEs across diverse sectors.

As of December 2023, BlackSoil claimed to have deployed INR 5,000 crore in 214 agreements. The portfolio includes investments in growth companies such as Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.

According to BlackSoil, its AUM increased by almost 30% year over year in 2023. It also made investments of INR 1650 crore, in 63 deals, and exited from more than 20 of them during that time.

The firm added that three of its portfolio firms—Yatra, ideaForge, and Cellecor—got listed on the stock exchange in 2023 and that the portfolio companies raised a total of INR 800 million in equity in the previous year.

BlackSoil investor Gnanesh (Sunil) Gala, Managing Director, Navneet Education, added, " With a strong asset base, this equity round will equip the Company to expand our assets under management (AUM) in new-age economy sectors. Its extensive deal experience provides valuable business performance data, enhancing its credit assessment capabilities as it grows further, exploring new sectors and foraying into new business verticals. I proudly support their mission of driving sustainable growth and empowering the Indian economy."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Branding

You Don't Need Thousands to Turn Your Business Idea Into Reality — Here's How I Did It on a College-Kid Budget

From creating the packaging designs online by myself to learning how to take professional product photos, I found ways to launch a company on a low budget. Here's how you can do it, too.

News and Trends

Dezy Raises USD 6 Mn New Funding to Expand Clinic Network in Bengaluru and Hyderabad

This round, part of a larger USD 8-10 million funding push, will primarily focus on scaling operations in Bengaluru and Hyderabad. Dezy had previously raised USD 23 million in a Series A round in 2022.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Tech-Enabled NBFC Swara Fincare Raises INR 19.4 Cr to Empower Rural and Semi-Urban Entrepreneurs

The Series A funding was led by UC Impower and supported by Serica Angel Fund to boost financial inclusion, expand its network, and enhance technology platforms.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.