BlackSoil Group's BlackSoil NBFC raises Rs 208 crore debt in H1CY24

BlackSoil NBFC, the flagship arm of BlackSoil Group, an alternative credit platform, raised Rs 208 crore in debt in the first half of the calendar year 2024. 

Notably, 60% of this funding came from new debt investors. The funding marks a robust 30% year-on-year growth in debt raise, bringing BlackSoil's total debt raise to over Rs 1,570 crore as of June 30, 2024.

The firm saw diverse investor participation, including HNIs, UHNIs, Family Offices, prominent banks, and NBFCs.

Prior to this, BlackSoil NBFC raised Rs 100 crore in equity funding through a rights issue in March 2024 led by existing Indian investors and family offices.

Backed by marquee investors 

BlackSoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors.

The firm has significantly expanded its lender network, including several banks and NBFCs, enhancing its borrowing capabilities.

"This substantial debt raise, particularly the 60% from new investors, validates our business model and emphasises the trust we have built in the alternative credit space. It is a testament to our robust credit profile and expanding market presence," Ankur Bansal, Co-Founder and Director at BlackSoil.

"This milestone empowers us to offer even more innovative and tailored financial solutions to India's high-growth sectors, reinforcing our commitment to bridging the credit gap for new-age businesses and fostering entrepreneurship nationwide," Bansal added.

Leveraging in-house expertise

BlackSoil's agile investment strategy leverages in-house expertise to align with the evolving startup ecosystem. Its investment criteria prioritise strong unit economics, predictable revenue growth, and robust cash flows.

Focused on diverse sectors

BlackSoil maintains a diversified portfolio spanning a wide range of sectors, including FinTech/FinServ, AgriTech, B2B, Consumer, Healthcare, SaaS, and IoT.

It has also strategically expanded into emerging sectors like EV, Quick Commerce, Hospitality, and Online Travel Aggregators.

Its noteworthy investments include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celebal Technologies and JCB Salons.

"Our sector-agnostic approach aims to mitigate risks through diversification and granularity, ensuring rigorous monitoring from investment to final repayment," Bansal added.