BlackSoil NBFC, a prominent player within the BlackSoil Group, has successfully raised ₹208 crore in a recent debt funding round. This latest round saw participation from high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), family offices, banks, and non-banking financial companies (NBFCs).
Of the total amount raised, 60% came from new debt investors. This funding injection has elevated BlackSoil’s total debt to over ₹1,570 crore as of June 30, 2024. The company had previously secured ₹100 crore through a rights issue, with participation from all its existing investors.
BlackSoil’s investor base includes notable entities such as Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors led by Mathew Cyriac. The company has broadened its lender network to include various banks and NBFCs, enhancing its borrowing capacity.
Founded in 2016 by Mohinder Pal Bansal and Ankur Bansal, BlackSoil specializes in providing customized credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across diverse sectors. The firm is recognized for its sector-agnostic approach and cash flow-focused underwriting methodology, which has cemented its status as a preferred lender for businesses in the new-age economy.
BlackSoil’s portfolio includes five unicorns, notably Spinny, Upstox, and MobiKwik, with Spinny achieving unicorn status in 2021. The company maintains a diversified investment portfolio across fintech, agri-tech, B2B, consumer, healthcare, SaaS, and IoT sectors, while also venturing into emerging fields like electric vehicles (EVs), quick commerce, hospitality, and online travel aggregators (OTAs).
Significant investments in its portfolio comprise ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celbal Technologies, and JCB Salons. BlackSoil reports a robust year-on-year growth of over 30% in debt fundraising and boasts a network comprising nine banks, five NBFCs, and more than 250 HNI families.
