“We have provided debt funds tailored for these companies to provide cash to meet the growth & working capital needs which are crucial for the fast-paced growth these companies are witnessing.”
Blacksoil Capital, a credit platform announced that it has invested over INR 12 Crores in digital freight forwarding startup Freightwalla, UpMoney NBFC, and D2C affordable fashion player Rapidbox. Blacksoil has successfully concluded over 50 debt transactions to VC-backed growth companies/startups by deploying more than INR 500 Crs in the past 4.5 years.
Commenting on the investments, Ankur Bansal, Co-founder, and Director, BlackSoil said, “We have provided debt funds tailored for these companies to provide cash to meet the growth & working capital needs which are crucial for the fast-paced growth these companies are witnessing. We hope to build upon these relationships to be their long-term partners as they scale manifold in a sustainable manner.”
Founded in 2016 by Sanjay Bhatia, Punit Java, and Bharat Thanvi, Freightwalla operates a tech-enabled freight forwarding and logistics portal that offers planning, booking, tracking, and automated documentation services for international freight shipments. Up Money is an NBFC that provides small ticket size business loans (both secured and unsecured) to MSMEs and two-wheeler financing solutions through a traditional branch model. The company was founded by the father-son duo Mr. Ajit Singh Chawla and Mr. Sumel Singh Chawla in 2015. It currently has 54 branches in tier 2 and tier 3 cities. Rapidbox is an online direct from the factory to consumer fashion brand under the affordable segment that operates in categories like footwear, apparel, and accessories. The company was started in 2017 by Mr. Arun Paliwal (ex-Flipkart) and Mr. Manoj Baranwal (ex-Dailyhunt). BlackSoil is a sector agnostic alternative credit platform & recently raised INR 125 Crores in the first close for its maiden secured BlackSoil India Credit Fund.
Source: Business World
