BlackSoil NBFC funding

Venture debt and alternative credit fund BlackSoil Capital Pvt Ltd (NBFC) on Tuesday announced that it has raised Rs 22 crore by issuing secured debentures to high net worth individuals and family offices on a private placement basis.

The company said that with this round, the non-banking financial services firm has managed to acquire around Rs 80 crore in the current financial year.

“The funds raised through this NCDs issue will be used primarily for lending activities. It will also be used to fund growth startups and MSMEs,” BlackSoil said in the statement.

Since its inception 4.5 years ago, the startup has raised a total of Rs 287 crore through multiple NCD issues and about 30% of the same has been repaid as well, according to the official statement.
The company said that it has reduced coupons by 1.5 percent, resulting in the pricing being lowered by 150 basis points in the last year in spite of the pandemic.

“At BlackSoil, despite COVID-19, we have seen massive 35 percent growth in disbursement amount compared to last year, which makes us confident that emerging businesses have finally warmed up to the concept of considering alternative avenues of fundraising,” Blacksoil Director and Co-founder, Ankur Bansal said.

In January 2021, the alternative credit platform had acquired Rs 32 crore from 60+ investors for a period of three years. BlackSoil has permanent capital in the form of equity raised from family offices. It is sponsored by family offices, including Managing Director of Navneet Education, Ganesh D Gala, and Chairman of AllCargo Logistics, Shashi Kiran Shetty.

The NBFC has successfully distributed Rs 1,400 crore in the last four years across 90+ transactions. Some of BlackSoil’s portfolio companies include hospitality unicorn OYO Rooms, rental used car retailing platform Spinny, design-led lifestyle brand Chumbak, rental startup Rentomojo, bike-rental startup Vogo, logistics startup LetsTransport, and edtech startup iNurture, among others.

The startup is always on the lookout for passionate individuals to join their constantly growing team. If you have good problem-solving skills, are capable of working in a high-performance and team-oriented culture, and are a quick learner, a career at BlackSoil would be a perfect fit for you. You can send them an e-mail to inquire about job openings. All of the contact information is provided on their website.