BlackSoil NBFC is a flagship subsidiary under BlackSoil Group that secured Rs 200 crore in the debt funding round. The funding round saw the participation of HNIs, family offices, UHNIs, banks, and other NBFCs. The company plans to use these debt funds to scale its operations, secure its platform, expand its lender network, and enhance its borrowing capabilities. We are discussing BlackSoil NBFC secured Rs 200 crore in its debt funding round from HNIs and others.
We are discussing BlackSoil NBFC secured Rs 200 crore in its debt funding round from HNIs and others:
The company got around 60 percent of this funding from new debt investors, making its total debt reach Rs 1,570 crore in June. The startup has secured over Rs 100 crore through its right issue with the participation of all existing investors. BlackSoil is a non-banking finance company that provides personalized loaning options and solutions to different financial institutions, emerging corporates, small businesses, and MSMEs across various sectors.
The startup is well-positioned in the lending sector for new economy businesses. Its cash-flow-focused underwriting approach is sector-agnostic. The platform facilitates loaning transactions between borrowers and NBFCs or banks to provide loans and other financial requirements. The startup offers debt to scale businesses and companies that cannot take debt from other financial institutions and banks.
This lending startup has around five unicorns, including Upstox, Spinny, and Mobikwik. The company offers debt in different sectors such as agritech, B2B, fintech, healthcare, consumers, SaaS, and IoT. The firm has expanded its services to emerging sectors such as EV, online travel aggregators, and quick commerce. The Indian startup ecosystem is experiencing increased new businesses and technical advancements. Among this competition, many high-growth startups face challenges securing debt from traditional banks due to their high-risk nature. Blacksoil provides debt to these high-performing startups and helps them scale their business while solidifying their position in the market.
The Mumbai-based startup announced a 30 percent YoY growth in its debt funding for this year. The company offers a network of nine banks and over five non-banking financial companies with more than 250 HNI families. The supply chain fintech platform SaralSCF plays a critical role in supply chain financing by providing a seamless digital experience with timely and efficient financial solutions and a user-friendly interface. Blacksoil faces competition from other lending companies, including InnoVen Capital, Vivirti Asset Management, and more.
Conclusion
Blacksoil NBFC is a subsidiary under Blacksoil Group that secured R 200 crore in its debt funding round with the participation of its family offices, HNIs, UHNIs, financial institutions, banks, and other NBFCs. This investment shows the trust of investors in Blacksoil’s business model. The startup plans to use these fresh proceeds to enhance its platform, expand its lender network, and improve its borrowing capabilities. The company offers an online platform that allows borrowers to connect with various NBFCs. The startup provides debt to those companies that face challenges in securing debt from traditional banks due to their high-risk nature. Blacksoil currently operates nine banks and five NBFCs with over 250 HNIs.
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