BlackSoil, an alternative credit platform and the flagship arm of BlackSoil Group, has made headlines by raising INR 100 crore ($12 million) in equity funding through a rights issue. Existing Indian investors and family offices also participated in the funding round.

As per the startup, the freshly raised funds will be used to enhance its credit profile and strengthen borrowing capacity. The raised capital will enable the startup to accelerate its growth trajectory and further solidify its position as a leading player in the alternative credit space.

BlackSoil | Alternative Credit Platform

Founded by MP Bansal, along with co-founder Ankur Bansal, BlackSoil is an alternative credit platform providing credit funding that meets the real-world demands of growing businesses. The firm works with companies at all stages of development through structured lending, fund raising, restructuring, etc.

The platform offers alternative credit solutions to various types of financial institutions, growth companies, NBFCs, and micro, small, and medium enterprises (MSMEs).

This funding round marks BlackSoil NBFC’s fourth capital raise in the last eight years. And including this deal, the firm has secured more than Rs 250 crore in total equity raise. On the debt side, BlackSoil has raised funding of more than Rs 1,700 crore from high-networth individuals (HNIs), banks, and other NBFCs.

Backed by investors and family offices of Allcargo Logistics, Mahavir Agency, Navneet Education, and Mathew Cyriac-led Florintree Advisors, BlackSoil claims its assets under management (AUM) grew by about 30% year-on-year last year. The firm added that its investments also increased by about 30% year-on-year, claiming that it deployed Rs 1,650 crore across 63 deals and took exit from more than 20 deals in the same year.

Some of the firms in which BlackSoil has invested over the years include Oyo Rooms, Udaan, Infra Market, Zetwerk, Upstox, Slice, Mobikwik, and Spinny & Purplle. Last year, BlackSoil’s portfolio companies raised a total of $800 million in equity. Additionally, three of its portfolio companies—Yatra, IdeaForge, and Cellecor—were listed on the stock exchange.

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