BlackSoil NBFC, the primary arm of the BlackSoil Group, has successfully raised Rs 208 crore in debt funding. This latest funding round saw participation from high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), family offices, banks, and non-banking financial companies (NBFCs).
According to BlackSoil, 60% of this new funding was secured from first-time debt investors, pushing its total debt raised to over Rs 1,570 crore as of June 30, 2024. Recently, the company also raised Rs 100 crore through a rights issue, with all existing investors contributing.
BlackSoil enjoys the backing of prominent investors and family offices, including Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors, led by Mathew Cyriac. The company has expanded its network of lenders to include several banks and NBFCs, thereby enhancing its borrowing capacity.
Established in 2016 by Mohinder Pal Bansal and Ankur Bansal, BlackSoil provides tailored credit solutions to emerging corporates, financial institutions, NBFCs, and MSMEs across various sectors. The company positions itself as a preferred lender for modern businesses, employing a sector-agnostic strategy and a cash flow-focused underwriting methodology.
BlackSoil’s portfolio includes five unicorns such as Spinny, Upstox, and MobiKwik. Spinny, which achieved unicorn status in 2021, is the most recent addition to this esteemed list. The company maintains a diversified investment portfolio spanning fintech, agri-tech, B2B, consumer, healthcare, SaaS, and IoT sectors. It has also ventured into emerging fields like electric vehicles (EV), quick commerce, hospitality, and online travel aggregators (OTA).
Notable investments by BlackSoil include ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celbal Technologies, and JCB Salons. Based in Mumbai, BlackSoil reported over 30% year-on-year growth in debt fundraising, supported by a network of nine banks, five NBFCs, and more than 250 HNI families.
