New $215M Lender Boosts Indian SMEs

BlackSoil Capital and Caspian Debt have successfully completed their merger, officially operating as BlackSoil Capital Pvt Ltd since November 1. This integration establishes a significant non-bank lender in India, with approximately ₹1,900 crore in assets under management and cumulative disbursements nearing ₹14,000 crore across 550 companies. The merged firm is now positioned among India's largest alternative credit providers for SMEs.

The collaboration enhances BlackSoil's reach, incorporating Caspian's network of approximately 5,000 additional borrowers. This expansion includes early-stage impact ventures, growth-stage SMEs, and mid-market corporates. The unified entity intends to increase its focus on sectors like agriculture, healthcare, technology, consumer goods, and climate-linked businesses, while championing responsible and impact-led lending practices.

With an expanded team of 170 employees across five major Indian cities, BlackSoil is set to adopt Caspian's advanced tech-led underwriting and monitoring systems. The company targets a compound annual growth rate of 25% in the coming years, driven by its scaled operations, diversified client base, and operational synergies, solidifying its commitment to becoming a tech-first NBFC.