Blacksoil Capital Invests Rs 12 Crore In UpMoney, Freightwalla, And Rapidbox
BlackSoil Capital, an alternative NBFC and AIF Fund platform, said it has invested over Rs 12 crore in three startups — UpMoney, Freightwalla, and Rapidbox.
Up Money is an NBFC providing affordable financing for two-wheelers loans and Micro, Small & Medium Enterprises (MSMEs) mainly for rural livelihood advancement.
Freightwalla is a technology-driven freight forwarding and logistics portal working with a mission to bring transparency and simplicity to the import-export process.
Rapidbox is a community-focused social commerce company providing direct from the factory to consumer fashion brand under the affordable segment that operates in categories like footwear, apparel, and accessories.[Read: Top 9 Active Venture Capital Firms in India]
Talking about the investment, Ankur Bansal, Co-founder and Director of BlackSoil Capital, said,
“We have provided debt funds tailored for these companies to provide cash to meet the growth and working capital needs, which are crucial for the fast-paced growth these companies are witnessing. We hope to build upon these relationships to be their long-term partners as they scale manifold in a sustainable manner. Blacksoil is excited with the vast opportunity available for these companies to tap and grow exponentially in the coming couple of years.”
According to the official statement, since the inception of BlackSoil, it has concluded over 50 debt transactions to VC-backed growth companies and startups by deploying over Rs 500 crore.
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