Digital credit platform Blacksoil has raised ₹180 Crores through non-convertible debentures bank debt & other instruments for its NBFC. The amount raised through the latest fundraiser will be deployed predominantly for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the startup ecosystem.
According to the official statement, NBFC’s unique NCD program has enabled it to raise ₹420+ Crs 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 the first choice for high growth, innovative startups. We already have an exciting pipeline of investments across diverse sectors lined up for FY23,” said Ankur Bansal, Director and Co-founder of BlackSoil Capital. “This fundraising 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,” he added.