Venture debt firm BlackSoil on Thursday said it has invested over Rs 20 crore cumulatively across three companies - Loanzen Finance, SVCL and CMS IT Services - to help them chart the next stage of growth.
Loanzen Finance is a used commercial vehicle financing NBFC, while SV Creditline (SVCL) is a microfinance NBFC and CMS IT Services is a managed IT and system integration services provider.
“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," BlackSoil co-founder and Director Ankur Bansal said. He exuded optimism that BlackSoil's debt capital will help these companies take their businesses to the next level and said the company will continue to support these three firms through the lifecycle of the deal.
Loanzen Finance is a Bengaluru-based company, financing used commercial vehicles. Backed by investors like Zephyr Peacock and Kae Capital, Loanzen primarily finances individuals (drivers) and first-time buyers of used commercial vehicles. It also offers 360-degree financing solutions to its customers by providing small-ticket loans for vehicle insurance, vehicle maintenance and working capital loans.
Gurugram-based SVCL is a microfinance NBFC primarily lending through joint lending groups to financially underserved rural and semi-urban regions of northern India. Founded by Sunil Sachdeva (co-founder of Medanta, a multi-speciality hospital chain in India) and Vijay Parekh (former COO and MD of Temasek), SVCL currently has more than Rs 500 crore of AUM (assets under management) catering to 2.5 lakh active customers through 149 branches in nine states.
Bengaluru-based CMS IT Services provides managed IT and system integration services and has 5,500 employees.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)