BlackSoil, an alternative credit platform, has announced the acquisition of the solar financing business of Credit Fair, a B2B2C green energy financing platform focused on rooftop solar loans. The transaction is subject to the necessary approvals. The acquisition marks BlackSoil’s entry into India’s rapidly growing renewable energy financing sector while expanding its presence in the partner-led B2B2C lending ecosystem.
As part of the transaction, BlackSoil will acquire Credit Fair’s solar financing business along with its management team, technology platform, brand and operating infrastructure. Credit Fair currently has assets under management (AUM) of INR 152.6 crore, providing BlackSoil with an established platform to serve the growing financing needs of residential solar customers and MSMEs.
The acquisition also strengthens BlackSoil’s presence across the renewable energy value chain through a scalable partner-led distribution model. Leveraging Credit Fair’s relationships across the solar ecosystem, BlackSoil will work closely with installation partners while delivering seamless financing solutions directly to end customers.
Credit Fair has presence across more than 20 states, processing over 3.5 lakh loans nationwide and disbursing more than INR 1,300 crore since its inception in 2018. The company has partnered with solar ecosystem players including Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas and Adani Solar.
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