Acquisition · Financial Services

BlackSoil Capital acquires Credit Fair’s solar financing business for ₹45 Cr

What they do

BlackSoil Capital, a venture debt firm, acquired Credit Fair’s solar financing business in a slump sale for ₹45 Cr

The acquisition includes Credit Fair’s management team, technology platform, brand, and operating infrastructure

Credit Fair’s solar financing business had assets under management of about ₹160 Cr as of March 2026

BlackSoil Capital acquired Credit Fair’s solar financing business in a slump sale for ₹45 Cr.
The acquisition was completed on July 1, 2026, and includes Credit Fair’s management team, technology platform, brand, and operating infrastructure.
Credit Fair’s solar financing business had assets under management of about ₹160 Cr as of March 2026.
Credit Fair had raised over $30 Mn in debt and equity since inception in 2018.
The deal allows BlackSoil to expand its retail lending portfolio and strengthen its presence in climate-focused financing.

Credit Fair faced challenges in raising equity and debt due to tighter RBI regulations and a difficult funding environment for smaller NBFCs.
The acquisition gives BlackSoil an established platform to finance rooftop solar projects for residential customers and MSMEs.
Credit Fair’s solar financing business has processed over 3.5 lakh loans and disbursed over ₹1,300 Cr across more than 20 states.

BlackSoil Capital is a venture debt firm that provides finance to emerging micro, small and medium companies, growth companies, and financial institutions.
It operates an RBI-registered Non-Banking Financial Company (NBFC) and a SEBI-registered Alternative Investment Fund (AIF).
The firm currently manages assets worth approximately $275 million.
It provides structured credit solutions to startups, MSMEs, and growth-stage businesses across multiple sectors.
BlackSoil was formed in 2016 through the acquisition of Sarvodaya Capital and now operates under the BlackSoil brand.

BlackSoil plans to collaborate closely with solar installation partners.
The company aims to offer financing solutions directly to residential customers and small businesses adopting solar energy.
BlackSoil is positioning itself to capitalize on the increasing demand for accessible financing solutions in the renewable energy sector.