BlackSoil NBFC Raises INR 100 Crore in Equity Funding Round
- ByStartupStory | March 11, 2024
BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised INR 100 crore in equity from existing Indian investors and family offices through a rights issue.
According to an 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, are supporting BlackSoil.
With this latest round, BlackSoil NBFC has raised over INR 250 crore in equity, its fourth capital infusion in the last eight years. The company 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, stated, “This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space.”
Established in 2016, BlackSoil provides customized alternative credit solutions to various sectors. As of December 2023, BlackSoil claimed to have deployed INR 5,000 crore in 214 agreements, including investments in growth companies like Ideaforge, Upstox, Bluestone, and OYO.
The firm reported a 30% year-over-year increase in AUM in 2023 and made investments of INR 1650 crore in 63 deals. Gnanesh (Sunil) Gala, Managing Director of Navneet Education and BlackSoil investor, commented, “With a strong asset base, this equity round will equip the Company to expand our assets under management (AUM) in new-age economy sectors.” He also expressed support for BlackSoil’s mission of driving sustainable growth and empowering the Indian economy.
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