BlackSoil NBFC raises ₹180cr debt via NCDs & other instruments

By Leandra Monteiro

Digital-first, sector-agnostic, alternative credit platform, BlackSoil has raised ₹180 Crs through non-convertible debentures (NCDs), bank debt & other instruments for its NBFC. The NCDs are 3-year tenure products, raised from UHNIs, HNIs & Family Offices, of which the majority are repeat investors. Along with the NCDs, funds have been raised from banks and other institutions. The capital raised through the latest fundraising will be deployed predominantly for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the start-up ecosystem.

The NBFC has established a proprietary network of 200+ high net-worth families and corporates, who have shown support by subscribing to multiple NCD issuances by the company over the past few years. The NBFC’s NCD program has enabled it to raise ₹420+ Crores across multiple series. The company has managed to reduce its cost of capital supported by an improving credit profile, which has enabled them to quickly raise funds at competitive rates.

“Despite the global events of the last couple of years, BlackSoil has continued to witness tremendous growth. We strive to continue this growth path and become the lender of first choice for high growth, innovative startups. We already have an exciting pipeline of investments across diverse sectors lined up for FY23. This fundraise will not only help us reach our investment goals but is a testament to our track record. Our investor network has continued to show immense faith in us since ~65% comprise repeat investors who have been subscribing & investing over the years and remain bullish on our progress,” said Ankur Bansal, Director and Co-founder of BlackSoil Capital.