BlackSoil NBFC Secures $12M Equity from Current Backers

BlackSoil NBFC, the flagship arm of the BlackSoil Group, a prominent alternative credit platform, has successfully raised equity totaling Rs 100 crore ($12 million) through a rights issue. The infusion of capital, sourced from existing Indian investors and family offices, is poised to bolster BlackSoil NBFC’s credit standing and amplify its borrowing capacity, fostering further growth opportunities, as highlighted in the company’s official press release.

Backed by the investors and family offices of esteemed entities such as Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors led by Mathew Cyriac, BlackSoil NBFC continues to solidify its position in the market. This latest round of funding marks the fourth capital injection within a span of eight years, catapulting the total equity raised to approximately Rs 250 crore ($30 million).

Furthermore, the company has secured substantial debt financing exceeding Rs 1,700 crore (over $200 million) from a diverse array of stakeholders, including high-net-worth individuals (HNIs) and banking institutions. BlackSoil NBFC specializes in providing alternative credit solutions to a wide spectrum of entities, including growth companies, financial institutions, non-banking financial companies (NBFCs), and micro, small, and medium enterprises (MSMEs) spanning various sectors.

At the group level, BlackSoil has achieved a significant milestone by disbursing over Rs 5,000 crore (exceeding $600 million) across 214 transactions by December 2023. Its illustrious portfolio encompasses leading names such as ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik, and Cure Foods.

According to BlackSoil’s reports, the assets under management (AUM) witnessed a remarkable 30% year-on-year growth in 2023. The company deployed an impressive Rs 1650 crore (almost $200 million) across 63 transactions during the same period, while also exiting from over 20 deals.

Moreover, BlackSoil proudly announces that its portfolio companies collectively raised a substantial equity sum of $800 million in the previous fiscal year. Notably, three of these entities, including Yatra, ideaForge, and Cellecor, successfully debuted on the stock exchange in 2023, underscoring BlackSoil’s pivotal role in fostering growth and market presence for its partners.