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BlackSoil NBFC raises $12 Mn equity capital from existing backers

EntrackrEntrackr ยท 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 NBFCโ€™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 NBFCโ€™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.

BlackSoil NBFC raises over Rs 200 Cr debt

EntrackrEntrackr ยท 12m ago
BlackSoil NBFC raises over Rs 200 Cr debt
Medial

BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised Rs 208 crore debt. The round witnessed participation from HNIs, UHNIs, Family Offices, banks, and NBFCs. According to BlackSoil, 60% of this funding came from new debt investors and its total debt raised to over Rs 1,570 crore as of June 30, 2024. The company had recently raised Rs 100 crore through a rights issue where all its investors participated in this round. BlackSoil is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors. The company has expanded its lender network, including several banks and NBFCs, enhancing its borrowing capabilities. Co-founded in 2016 by Mohinder Pal Bansal & Ankur Bansal, it offers customized credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across sectors. The group claims that it has solidified its position as a preferred lender for new-age economy businesses, employing a sector-agnostic approach and cash flow-focused underwriting methodology BlackSoil has 5 unicorns in its portfolio including Spinny, Upstox, MobiKwik and others. The most recent unicorn in their portfolio is Spinny which became a billion dollar valued company in 2021. BlackSoil maintains a diversified portfolio spanning a wide range of sectors, including fintech, agri-tech, B2B, consumer, healthcare, SaaS, and IoT. It has also expanded into emerging sectors like EV, quick commerce, hospitality, and online travel aggregators (OTA). Its noteworthy investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celbal Technologies and JCB Salons. The Mumbai-based company says that it saw over 30% year-on-year growth in debt fundraise, having a network of nine banks & five NBFCs, and more than 250 HNI families.

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