Blacksoil secures $25 million from top investors to expand its alternative credit platform
- ByStartupStory | April 5, 2023
Banks, family offices, corporate treasuries, and high-net-worth individuals have contributed $25 million to the funding of Blacksoil, an alternative credit platform.
Up to 60% of the investors in the Mumbai-based company that had previously raised $35 million in the first half of FY23 were repeat customers.
Startups are turning their attention to alternative funding sources, including venture debt as an asset class, in the midst of a funding winter in the Indian technology ecosystem. Venture debt providers are increasingly being chosen as partners by emerging businesses.
“We have witnessed a strong interest from investors, and we are confident that our robust portfolio performance in the current funding winter environment will continue to attract investors in the years to come,” said Ankur Bansal, co-founder of BlackSoil.
Blacksoil said its approach of investing in sustainable growth companies and focus on structuring opportunities in a risk-adjusted manner has garnered investor interest in its platform.
New-age industries like battery swapping (with Battery Smart), OTA travel (Yatra.com), discount broking (Upstox), healthtech (HealthPlix), and deeptech are among Blacksoil’s notable recent investments (Tonbo Imaging). MobiKwik, OYO, Udaan, Upstox, Spinny, and Zetwerk are just a few of the unicorns in which the company has invested.
A SEBI-registered AIF/ Fund and an RBI-registered NBFC make up the platform used by the venture debt provider. Through these channels, the company recently completed venture debt deals totaling $300 million for more than 100 start-ups and growth companies. More than $100 million in assets are being managed by it (AUM).
Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.
Follow Startup Story
Related Posts
