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March 12, 2024

“BlackSoil NBFC Secures $12M Investment to Fuel Growth: A Testament to Its Ascendancy in Alternative Credit Market”

BlackSoil NBFC, equity capital, funding, growth, investors, alternative credit solutions, Ankur Bansal, record of achievement, SaralSCF, supply chain financing, Gnanesh Gala, Navneet Education, new-age economy sectors

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BlackSoil NBFC, a frontrunner in the alternative credit market, recently announced a substantial milestone as it secured a $12 million infusion in equity capital from its existing backers. This significant funding not only bolsters the company’s credit profile but also amplifies its borrowing capabilities, propelling its trajectory of growth and expansion. This marks the fourth consecutive investment in BlackSoil NBFC over an eight-year span, cumulatively reaching over Rs 250 crore ($30 million).

Among the notable investors and family offices backing BlackSoil NBFC are those affiliated with Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors, spearheaded by Mathew Cyriac. The firm stands distinguished for providing alternative credit solutions across diverse sectors, catering to growth companies, financial institutions, NBFCs, and MSMEs.

Ankur Bansal, the Co-founder and Director of BlackSoil, expressed unwavering optimism regarding the funding’s potential impact, stating, “This infusion of capital will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space.”

BlackSoil NBFC boasts an impressive track record of accomplishment, having disbursed over Rs 5,000 crore (over $600 million) across 214 deals by December 2023. Some prominent portfolio companies include ideaForge, Upstox, Bluestone, OYO, and Railyatri. The past year alone witnessed a remarkable 30% growth in Assets Under Management (AUM), with Rs 1650 crore (nearly $200 million) deployed across 63 deals and more than 20 successful exits, according to media reports.

In a strategic move to cater to the evolving needs of new economy businesses, BlackSoil recently introduced SaralSCF, a supply chain financing vertical. This vertical has already disbursed over Rs 1,500 crore and has forged partnerships with more than 110 anchor partners, reflecting the company’s commitment to innovation and adaptation.

Reflecting on BlackSoil NBFC’s trajectory, investor Gnanesh (Sunil) Gala, Managing Director at Navneet Education, lauded the company’s robust asset base and expressed confidence in its ability to expand its Assets Under Management (AUM) within new-age economy sectors. Gala emphasized the significance of BlackSoil NBFC’s extensive deal experience, which provides invaluable business performance data, thereby enhancing its credit assessment capabilities. He expressed proud support for BlackSoil NBFC’s mission of fostering sustainable growth and empowering the Indian economy.

In conclusion, BlackSoil NBFC’s latest equity capital infusion serves as a testament to its ascendancy in the alternative credit market, reaffirming its commitment to driving growth, innovation, and empowerment within the Indian financial landscape.

 

Jhumpa Lahiri

Jhumpa Lahiri

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