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BlackSoil NBFC raises $12 Mn equity capital from existing backers

EntrackrEntrackr · 1y ago
BlackSoil NBFC raises $12 Mn equity capital from existing backers
Medial

Alternative credit platform BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised equity of Rs 100 crore ($12 million) from its existing Indian investors and family offices through a rights issue. The capital injection will improve BlackSoil NBFC’s credit profile and boost its borrowing capabilities and growth, the company said in a press release. BlackSoil is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors. This latest funding also marks BlackSoil NBFC’s fourth capital infusion within eight years, bringing its total equity raise to approximately Rs 250 crore ($30 million). Additionally, it has secured debt financing of over Rs 1,700 crore (more than $200 million) from HNIs, banks et al. BlackSoil provides alternative credit solutions to growth companies, financial institutions, NBFCs and MSMEs across sectors. At the group level, BlackSoil has surpassed Rs 5,000 crore (over $600 million) disbursement across 214 deals by December 2023. Its portfolio includes ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik and Cure Foods. As per BlackSoil, its AUM grew around 30% year-on-year in 2023 and it deployed Rs 1650 crore (nearly $200 million) across 63 deals and exited from over 20 deals in the last year. The firm also said that its portfolio companies collectively raised equity of $800 million in the last year while three of them including Yatra, ideaForge and Cellecor got listed on the stock exchange in 2023.

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CredRight raises $10 Mn in Series B led by Abler Nordic

EntrackrEntrackr · 3m ago
CredRight raises $10 Mn in Series B led by Abler Nordic
Medial

CredRight, a Hyderabad-based NBFC focused on nano and micro enterprises, has raised $10 million in Series B funding led by Abler Nordic, which marked its first investment from its new Fund V. Existing backers Michael & Susan Dell Foundation and Unleash Capital also participated, while Abler Nordic has now emerged as the company’s largest equity investor. Earlier in August 2023, CredRight had raised around $9.7 million led by the Michael & Susan Dell Foundation and others. The new proceeds will be used to expand CredRight’s loan book, strengthen its technology platform, and deepen reach across tier-II to tier-IV markets. Founded in 2016 by Neeraj Bansal and Vineet Jawa, the company operates a phygital model combining digital lending with a network of 125 low-cost branches across four states. Currently, CredRight serves over 20,000 micro-enterprises, including shopkeepers and traders traditionally excluded from formal finance. Its model targets India’s $530 billion MSME credit gap, of which $169 billion lies in the micro segment. CredRight competes in the inclusive finance and MSME lending space alongside players like Kinara Capital, Varthana, Aye Finance, U GRO Capital, and Indifi.

Ripplr raises $45 Mn from SBI and existing investors

EntrackrEntrackr · 7d ago
Ripplr raises $45 Mn from SBI and existing investors
Medial

Ripplr raises $45 Mn from SBI and existing investors Distribution and supply chain platform Ripplr has raised $45 million in its Series C round from State Bank of India (SBI) and existing investors. Its existing backers include 3one4 Capital, Zephyr Peacock, and Sojitz Corporation. A recent Moneycontrol report said that about $30 to 32 million will come in as primary capital, while roughly $10 million will be raised through a secondary component. Before this, the company raised over $56 million across equity and debt. Ripplr, founded by Abhishek Nehru and Santosh Dabke, runs a tech-first and full-stack distribution network that helps brands digitize and manage their operations from demand to delivery. The platform brings together logistics, on ground execution, inventory intelligence and retailer relationships into one unified layer. The company claims it now reaches about 100,000 retailers and processes hundreds of thousands of orders each month. Ripplr has built this scale by delivering reliable execution in a challenging distribution landscape that demands strong operations and a robust tech backbone. The platform manages supply chains for major consumer companies such as Unilever, Nestle, Tata, Godrej, Nivea and Dabur. According to startup data intelligence platform TheKredible, Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24. The firm posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore in the previous year.

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