The platform will use the funds to enhance its credit profile and strengthen borrowing capacity, cofounder and director Ankur Bansal said.
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“This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space,” Bansal said.
BlackSoil offers alternative credit solutions to various types of growth companies, financial institutions, non-banking financial companies (NBFCs), and micro, small, and medium enterprises (MSMEs).
It is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors.
This marks BlackSoil NBFC’s fourth capital infusion in the last eight years, bringing its total equity raise to more than Rs 250 crore. It has also raised debt funding of more than Rs 1,700 crore from high-networth individuals (HNIs), banks and other NBFCs.
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According to the platform, its assets under management (AUM) grew by about 30% year-on-year last year. The firm’s investments also surged by about 30% year-on-year, with Rs 1,650 crore deployed across 63 deals, while exiting from more than 20 deals in the same year.Some of BlackSoil’s investments over the years include Upstox, Slice, Mobikwik, Udaan, Infra Market, Zetwerk, Oyo Rooms and Spinny & Purplle.
Its portfolio companies raised a total of $800 million in equity in 2023. Three of its portfolio companies–Yatra, ideaForge and Cellecor–were listed on the stock exchange in the same year, the platform said.
