India's BlackSoil Acquires CreditFair's Solar Financing Business

en.Wedoany.com Reported - BlackSoil has announced the acquisition of Credit Fair's solar financing business, marking its entry into India's rapidly growing renewable energy financing sector. Credit Fair is a B2B2C green energy financing platform with expertise in rooftop solar financing. The transaction is subject to necessary approvals. This acquisition expands BlackSoil's footprint in the partner-led B2B2C lending ecosystem.

As part of the deal, BlackSoil will acquire Credit Fair's solar financing business along with its management team, technology platform, brand, and operational infrastructure. Credit Fair currently manages assets worth INR 1.526 billion, providing BlackSoil with a mature platform to meet the growing financing needs of residential solar customers and micro, small, and medium enterprises (MSMEs).

This acquisition enhances BlackSoil's presence in the renewable energy value chain through a scalable, partner-led distribution model. BlackSoil will leverage Credit Fair's relationships within the solar ecosystem, working closely with installation partners while delivering seamless financing solutions directly to end customers.

Credit Fair has established a presence in over 20 Indian states and, since its founding in 2018, has processed more than 350,000 loans nationwide, disbursing over INR 13 billion. The company has partnered with leading solar ecosystem players, including Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar.

India's solar industry is experiencing rapid growth, driven by favorable government policies, rising electricity demand, and increased adoption of renewable energy. As financing remains a key enabler of this transition, the acquisition allows BlackSoil to expand access to customized financing solutions through a partner-led B2B2C model, supporting India's clean energy goals.

Ankur Bansal, Managing Director of BlackSoil, stated that through this acquisition, the company strengthens its renewable energy portfolio while expanding its high-growth B2B2C financing ecosystem, enabling close collaboration with solar ecosystem partners to provide seamless financing solutions to customers. He noted that the company sees significant opportunities in the renewable energy sector and looks forward to building on the foundation laid by Credit Fair.

Aditya Damani, Founder and CEO of Credit Fair, said the company built this solar financing business to make renewable energy more accessible. As it takes the next step, the business becomes part of BlackSoil, which shares Credit Fair's vision of expanding access to clean energy financing. He believes the platform is well-prepared for the next phase of growth, with the potential to scale from its current financing of 80 MW to achieving 1 GW of distributed renewable energy capacity.

Founded in 2016, BlackSoil is a leading alternative credit platform, including a systemically important non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) and an alternative investment fund (AIF) registered with the Securities and Exchange Board of India (SEBI). BlackSoil manages assets worth USD 275 million and holds an ICRA rating of A- (Stable)/A2+. It has established a track record in underwriting and repayment for serving MSMEs, corporates, and retail businesses in India and Southeast Asian markets. The platform provides alternative credit solutions for short-term and long-term capital needs of rapidly growing and underserved new economy enterprises, with a portfolio including 11 unicorns and 14 publicly listed companies. BlackSoil integrates environmental, social, and governance (ESG) principles into its investment lifecycle, focusing on responsible capital deployment, financial inclusion, and sustainable economic growth. It is supported by leading global development finance institutions (DFIs) and institutional investors, including FMO, Gray Matters Capital, and Triodos Investment Management, as well as family offices of Allcargo Logistics, Navneet Education, and Mahavir Agency.