Mumbai, July 19 (SocialNews.XYZ) Alternative credit platform BlackSoil NBFC, an arm of BlackSoil Group, on Friday, said that it raised Rs 208 crore debt in the first half of the year.
Sixty per cent of this funding came from new debt investors, said the company.
BlackSoil's total debt raise reached over Rs 1,570 crore (as of June 30).
"This substantial debt raise, particularly the 60 per cent from new investors, validates our business model and emphasises the trust we have built in the alternative credit space,” said Ankur Bansal, Co-Founder and Director at BlackSoil.
The alternate credit platform recently raised fresh Rs 100 crore equity through a rights issue where all investors participated.
Blacksoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency and Mathew Cyriac-led Florintree Advisors.
Its portfolio includes investments in companies such as Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, Curefoods, Celebal Technologies and JCB Salons.
—IANS
na/kvd
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz