Monday, July 15, 2024

BlackSoil NBFC Raises $12M Equity Capital from Existing Backers

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BlackSoil NBFC, an alternative credit platform and a flagship arm of BlackSoil Group, has secured equity capital of $12 million from its existing Indian investors and family offices through a rights issue. This infusion of funds aims to enhance BlackSoil NBFC’s credit profile, bolster its borrowing capabilities, and fuel its growth trajectory, according to a press release issued by the company.

Backed by investors and family offices of prominent entities such as Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors, BlackSoil NBFC’s latest funding round marks its fourth capital infusion within eight years. With this round, the total equity raised by the company amounts to approximately $30 million.

BlackSoil NBFC Investment

Additionally, BlackSoil NBFC has also secured debt financing exceeding $200 million from High Net Worth Individuals (HNIs), banks, and others. BlackSoil NBFC specializes in providing alternative credit solutions to a diverse clientele comprising growth companies, financial institutions, Non-Banking Financial Companies (NBFCs), and Micro, Small, and Medium Enterprises (MSMEs) across various sectors.

At the group level, BlackSoil has facilitated disbursements exceeding $600 million across 214 deals by December 2023. Its portfolio boasts prominent names such as ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik, and Cure Foods.

A tree with investment coins

In 2023, BlackSoil witnessed a robust 30% year-on-year growth in Assets Under Management (AUM) and deployed approximately $200 million across 63 deals while exiting from over 20 deals during the same period.

The company also highlighted that its portfolio companies collectively raised equity capital worth $800 million in the previous year, with notable achievements including the stock exchange listings of Yatra, ideaForge, and Cellecor.

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