BlackSoil NBFC raises Rs 22 crore via NCDs in March

New Delhi: BlackSoil Capital Pvt Ltd, an NBFC has raised another round of secured debentures of Rs 22 crore through private placement to family offices and HNIs.

The NBFC has managed to raise Rs 80 crore this financial year.

The funds raised through this NCDs issue will be utilized primarily for lending activities to fund primarily growth startups and MSMEs.

Since its inception 4.5 years ago, BlackSoil has raised a total of Rs 287 crore via multiple NCD issues and 30% of the same has been repaid back as well.

“With the pandemic accelerating the number of venture debt deals across industries, the Indian startup ecosystem is currently poised to become a significant hub for opportunities in the alternative capital segment. At BlackSoil despite covid, we have seen massive 35% growth in disbursement amount compared to last year, which makes us confident that emerging businesses have finally warmed up to the concept of considering alternative avenues of fundraising,” said Ankur Bansal, Director and Co-Founder of Blacksoil.

Blacksoil’s NCD program has enabled them to quickly raise funds at rates competitive with financial institutions and with longer tenures.