Latest News | Credit Platform BlackSoil Raises USD 25 Mn
Get latest articles and stories on Latest News at LatestLY. BlackSoil, a Mumbai-based alternative credit platform, on Tuesday said it has raised over USD 25 million (about Rs 205 crore) through its diverse debt products.
New Delhi, Apr 4 (PTI) BlackSoil, a Mumbai-based alternative credit platform, on Tuesday said it has raised over USD 25 million (about Rs 205 crore) through its diverse debt products.
The platform secured funding from banks, family offices, corporate treasuries, and high-net-worth individuals, the company said in a statement.
This recent capital raise is in addition to the USD 35 million raised during the first half of FY23.
"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," the company said.
Some of the 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) and fintech unicorn (MobiKwik), the statement said.
BlackSoil has deployed USD 270 million across 135 deals and having an AUM (Asset Under Management) of USD 90 million.
The portfolio includes investments in nine unicorns such as Upstox, Udaan, Zetwerk, OYO Rooms, and Spinny, as well as other companies like Curefoods, Blu-Smart and drone maker ideaForge, the statement said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)