BlackSoil Group’s BlackSoil NBFC, has bagged debt funding worth Rs 208 crore with participation from high net worth individuals HNIs, Ultra HNIs, Family Offices, along with banks and NBFCs.
New debt investors contributed 60% of the total debt funds which is around Rs 1,570 crore as of June 30, 2024. In a recent funding round, the NBFC arm had raised Rs 100 crore through a rights issue with participation from all of its investors. The company claims to have witnessed a YoY growth of over 30% in debt fundraising.
Investors and family offices of Allcargo Logistics, Mathew Cyriac-led Florintree Advisors, Navneet Education, and Mahavir Agency are the ones backing BlackSoil. The company’s borrowing potential is consolidated on account of its wide lending network, which include banks and NBFCs.
Mohinder Pal Bansal and Ankur Bansal co-founded the company in 2016, which provides customized credit solutions to corporate houses, financial institutions, MSMEs, and other NBFCs with an approach assuming a focus on sectors and cash flow.
With a recent addition of Unicorn company Spinny, BlackSoil has a total of 5 unicorns in its portfolio including, Upstox, MobiKwik, and Spinny among others. The Mumbai-based company’s portfolio is spread across diverse and strengthened sectors such as fintech, agri-tech, healthcare, SaaS, IoT, B2B, and consumers, along with rapidly developing sectors like EV, quick commerce, and online travel aggregators (OTA) and hospitality.
The network of BlackSoil is spread across nine banks and five NBFCs, along with 250 HNI families. To date, it has made investments in companies in the likes of OYO, Bluestone, Udaan, ideaForge, Zetwerk, Yatra, Purplle, JCB Salon, Curefoods, Celbal Technologies along with the aforementioned unicorns.
