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Blacksoil invests INR 12 crores in 3 emerging Indian startups

Credit platform Blacksoil Capital stated that it has invested more than INR 12 Crores in digital freight forwarding startup Freightwalla, UpMoney NBFC, and D2C affordable fashion player Rapidbox. 

Blacksoil has successfully closed more than 50 debt transactions to VC-backed growth companies/startups by extending over INR 500 Crs in the last 4.5 years.

Speaking about the development, Ankur Bansal, Co-founder, and Director, BlackSoil said, “We have provided debt funds tailored for these companies to provide cash to meet the growth & 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.”

Freightwalla was founded in 2016 by Sanjay Bhatia, Punit Java, and Bharat Thanvi, and runs a tech-enabled freight forwarding and logistics gateway that gives planning, booking, tracking, and automated documentation services for international freight shipments. 

Up Money is a Non-Banking Financial Company that offers small ticket size business loans (both secured and unsecured) to MSMEs and two-wheeler financing solutions via a conventional branch model. The company, established by the father-son duo Mr. Ajit Singh Chawla and Mr. Sumel Singh Chawla in 2015, presently has 54 branches in tier 2 and tier 3 cities. 

Rapidbox is an online social shopping app under the affordable segment that leads in categories like footwear, clothing, and accessories. The company was incepted in 2017 by Mr. Arun Paliwal (ex-Flipkart) and Mr. Manoj Baranwal (ex-Dailyhunt). 

BlackSoil is a sector agnostic alternative credit platform & recently raised INR 125 Crores in the first close for its maiden secured BlackSoil India Credit Fund.

BlackSoil has presented a great possibility to Freightwalla, Up Money, and Rapidbox to scale their operations and grow their business.

Shishir Gupta, Founder and CEO, StartupLanes

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