BlackSoil raises Rs 100 cr via rights issue

Mumbai: Alternative credit platform BlackSoil on Monday said it has raised Rs 100 crore, from existing investors and promoters, through a rights issue.

BlackSoil is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors.

The company didn't disclose the ownership structure post the issue but said the latest funding round marks the fourth capital infusion within eight years, bringing its total equity raise to over Rs 250 crore.

Additionally, it has secured debt financing of over Rs 1,700 crore from HNIs, banks and other NBFCs.

BlackSoil provides customised alternative credit solutions to growth companies, financial institutions, Non-Banking Financial Companies (NBFCs) and Micro, Small and Medium Enterprises (MSMEs) across diverse sectors.

BlackSoil has surpassed Rs 5,000 crore disbursement across 214 deals by December 2023. Its portfolio includes investments in high-growth businesses such as Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.

With around a 30 per cent annual increase in investment, it has deployed Rs 1,650 crore across 63 deals and exited from over 20 deals in 2023, said Ankur Bansal, co-founder of BlackSoil.