BlackSoil NBFC has raised an equity capital of Rs 100 crore ($12 million) through a rights issue, while Mufin Green Finance has secured a $5-million debt funding from BlueOrchard.
Blacksoil NBFC raises $12m
BlackSoil NBFC, the flagship arm of alternative credit platform BlackSoil Group, has raised Rs 100 crore ($12 million) from its existing Indian investors and family offices through a rights issue.
The capital injection will improve BlackSoil NBFC’s credit profile and boost its borrowing capabilities.
This latest funding round marks BlackSoil NBFC’s fourth capital infusion within eight years, bringing its total equity raise to over Rs 250 crore. Additionally, it has secured debt financing of over Rs 1,700 crore from HNIs, banks, and other NBFCs, further bolstering its financial position.
BlackSoil is backed by marquee investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors.
BlackSoil NBFC’s portfolio firms collectively raised equity of $800 million in CY23, while three of them — Yatra, ideaForge, and Cellecor — were listed on the exchanges in the same year.
Mufin Green Finance raises $5m
Mufin Green Finance, a non-banking finance company, has secured $5 million in debt from BlueOrchard, an impact investment manager.
The new fundraise comes a month after the firm raised around $16.8 million in a Series B round of equity funding, with substantial support from prominent family offices.
The firm raised around $63.8 million in debt funding last year from financial institutions, including State Bank of India, IREDA, AU Small Finance Bank, ICICI Bank, and Kotak Mahindra Investments.
Mufin Green Finance plans to use the new capital to to accelerate its growth trajectory and scale up business operations in the down west region of the country.