The BlackSoil Capital NBFC on Tuesday announced that it has raised Rs 22 crore by issuing secured debentures (NCD). With this round, the non-banking financial services firm has managed to raise around Rs 80 crore in the current financial year.
“The funds raised through this NCDs issue will be utilised primarily for lending activities. It will be used 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 about 30 per cent of the same has been repaid as well,” BlackSoil said in the statement.
The firm said that it has reduced coupons by 1.5 per cent, which means the pricing has been lowered by 150 basis points in the past year despite the pandemic.
“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 per cent 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,” Blacksoil director & co-founder Ankur Bansal said.
BlackSoil Capital’s portfolio includes OYO, LetsTransport, Purplle, Furlenco among other firms.
Over the past few years, the company has generated a network of more than 200 high net-worth families and corporates who have expressed their support by investing in its various NCD issuances.