The deal gives the alternative credit platform immediate access to Rs 152.6 crore in managed solar assets, an established partner network, and a technology platform built specifically for residential and MSME solar lending.
BlackSoil, the alternative credit provider, has acquired Credit Fair’s solar lending department in an undisclosed deal, signaling its deliberate expansion beyond its current lending offerings into one of India’s fastest-growing financing markets.
What BlackSoil Is Getting
The acquisition results in the transfer of Credit Fair’s entire solar lending operations to BlackSoil, along with its team, technology, branding, and operations. The solar division had assets valued at Rs 152.6 crore at the time of this acquisition, giving BlackSoil a quick, operational entry into a market benefiting from government support.
Perhaps the most strategic asset acquired by BlackSoil is the partnership network established by Credit Fair. The latter has been working with leading enterprises in the industry, such as Adani Solar and Tata Power, and has developed a network that would take years to build from scratch.
Why This Makes Sense for BlackSoil
BlackSoil is a registered NBFC established in 2016 and operates as an Alternative Investment Fund registered with the SEC. The organization controls around $275 million in assets among startups, MSMEs, and growing companies. The acquisition of the solar business fits within the framework of moving into fast-growing industries with a real need for financing.
The challenges faced by residential rooftop solar and MSME clean energy adoption are similar:
the upfront cost is high, making repayment difficult even if future profits may seem very promising. BlackSoil believes that controlling this financial aspect is a sustainable business.
Credit Fair’s Track Record
Credit Fair was established in 2018 and has already financed over 3.5 lakh loan documents, disbursing more than INR 1,300 crore across 20 cities through its B2B2C approach.
