BlackSoil NBFC raises over Rs 200 crore debt in 1st half of 2024

BlackSoil NBFC raises over Rs 200 crore debt in 1st half of 2024July 19, 2024Mumbai, July 19 (IANS) Alternative credit platform BlackSoil NBFC, an arm of BlackSoil Group, on Friday, said that it raised Rs 208 crore debt in the first half of the year.

Sixty per cent of this funding came from new debt investors, said the company.BlackSoil’s total debt raise reached over Rs 1,570 crore (as of June 30).”This substantial debt raise, particularly the 60 per cent from new investors, validates our business model and emphasises the trust we have built in the alternative credit space,” said Ankur Bansal, Co-Founder and Director at BlackSoil.The alternate credit platform recently raised fresh Rs 100 crore equity through a rights issue where all investors participated.Blacksoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors.Its portfolio includes investments in companies such as Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celebal Technologies and JCB Salons.—IANSna/kvd