BlackSoil invests Rs 20 cr across 3 deals in Loanzen, SVCL and CMS IT Svcs

Venture debt firm BlackSoil on Thursday announced that it has invested over Rs 20 crore cumulatively in used commercial vehicle financing NBFC – Loanzen Finance, microfinance NBFC – S V Creditline (SVCL) and IT Service provider – CMS IT Services. The raised funds will be deployed by the companies for the next stage of their growth.

“Although all three of them cater to different segments, few characteristics are common like experienced management, growth potential, unique business positioning, and greater ability to survive through adversities like Covid-19. We are optimistic that our debt capital will help these companies take their businesses to the next level and will continue to support them through the lifecycle of the deal,” said  Ankur Bansal, co-founder and director of BlackSoil.

Loanzen Finance Private Limited is a Bangalore-based company financing used commercial vehicles. The company primarily finances individuals (drivers) and first- time buyers of used commercial vehicles. Apart from used commercial vehicle financing, the company offers 360-degree financing solutions to its customers by providing small ticket loans for vehicle insurance, vehicle maintenance, working capital loans and other financial needs of the customers. Loanzen is backed by marquee investors like Zephyr Peacock and Kae Capital.

S V Creditline is a Gurugram-based microfinance NBFC primarily lending through joint lending groups to financially underserved rural and semi-urban regions of northern India. SVCL currently has more than Rs 500 crore of AUM catering to 250,000 active customers through 149 branches in 9 states. The company was founded by industry veterans – Sunil Sachdeva (co-founder of Medanta, a multi-specialty hospital chain in India) and Vijay Parekh (former COO & MD of Temasek) and has been professionally managed since inception.

CMS IT is a Bangalore-based IT Service provider, providing managed IT and system integration services. With an employee strength of 5,500, the company serves over 225 government and private sector clients across industry verticals such as banking, insurance, manufacturing, services, healthcare, media, telecom, etc. CMS IT caters to marquee companies across the Fortune 500 list and leading Indian Companies. The company offers end-to-end IT Managed Services and is well-positioned in the domestic IT market on account of its technical skills and support infrastructure established across India. The company is a leading System Integrator and takes care of the business-as-usual IT infrastructure of several global customers that have a presence in India Notable investors include ex-Blackstone India head, Mathew Cyriac.

BlackSoil currently manages an alternative credit platform consisting of an RBI-registered NBFC and three SEBI-registered AIFs. Through multiple platforms, it has built a quality loan book by deploying Rs 2,300 crore across 130+ deals and having an AUM of Rs 900 crore. Some of BlackSoil’s noteworthy investments include recently turned unicorn – Infra.Market, online platform for refurbished used cars – Spinny, online on-demand manufacturing platform – Zetwerk, Udaan Capital (part of Udaan Group), furniture subscription platform – Furlenco, OYO Rooms and online beauty marketplace – Purplle amongst others.