BlackSoil Raises Fresh Capital Of $25+ Mn; Clocks 45% Y-O-Y Growth
Ankur Bansal, the Co-Founder of BlackSoil, expressed his optimism about the recent capital raise, stating, "We have witnessed a strong interest from investors, and we are confident that our robust portfolio performance in the current funding winter environment will continue to attract investors in the years to come."
BlackSoil, a Mumbai-based alternative credit platform, recently secured $25+ Mn through its diverse debt products. The platform secured funding from banks, family offices, corporate treasuries, and high-net-worth individuals. The Company’s offerings have garnered the trust and confidence of its investor base, as 60% of them were repeat investors in this recent capital raise. This recent capital raise is in addition to the $35 Mn that BlackSoil raised during the first half of FY23.
In 2022, the startup ecosystem faced various challenges, including geopolitical uncertainty and escalating interest rates. However, these challenges have emphasized the significance of developing sustainable business models that prioritize profitability and unit economics, which aligns with Blacksoil’s underwriting philosophy. The rise of alternative credit has become a crucial factor in enabling growth for Indian startups, and Blacksoil intends to remain a preferred lender to support their expansion.
60% of the investors were already existing investors
A total of $60 Mn was raised during the financial year 2023
The company has invested in modern sectors such as battery swapping, online travel agency (OTA), health technology, and deep technology
Blacksoil’s pragmatic approach towards investing in sustainable growth companies and focusing on structuring the opportunities in a risk-adjusted manner has positioned BlackSoil as a key destination for investors to invest.
Ankur Bansal, the Co-Founder of BlackSoil, expressed his optimism about the recent capital raise, stating, “We have witnessed a strong interest from investors, and we are confident that our robust portfolio performance in the current funding winter environment will continue to attract investors in the years to come.” This positive outlook reflects BlackSoil’s dedication to providing reliable and effective alternative financing solutions to the Indian startup & growth companies ecosystem.
Some of the notable investments Blacksoil made in the year include new-age sectors such as battery swapping (Battery Smart), OTA travel (Yatra.com), discount broking (Upstox), healthtech (HealthPlix), deeptech (Tonbo Imaging) & fintech unicorn (MobiKwik).