BlackSoil, an alternative lending platform, has acquired Fair, a B2B2C green energy finance platform and solar financing start-up. Credit Fair currently has Assets Under Management (AUM) of ₹152.6 crore. It says that BlackSoil has a strong foundation to satisfy the growing financing needs of MSMEs and residential solar customers.
By acquiring Credit Fair, BlackSoil increases its footprint in the partner-led B2B2C lending ecosystem and enters the Indian renewable energy financing market. BlackSoil will purchase Credit Fair’s solar finance division, together with its management team, technological platform, brand, and operational infrastructure, as part of the deal. Credit Fair is an expert in rooftop solar financing.
The required permissions must be obtained before the deal may proceed. Through a scalable partner-led distribution approach, the purchase significantly enhances BlackSoil’s position throughout the renewable energy value chain. BlackSoil will collaborate closely with installation partners while providing smooth financing solutions straight to end users, utilising Credit Fair’s connections throughout the solar industry.
Credit Fair processed 3.5 lakh loans nationwide.
Since its founding in 2018, Credit Fair has established a robust presence in over 20 states, processing over 3.5 lakh loans nationwide and disbursing over ₹1,300 crore. Leading companies in the solar ecosystem, such as Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar, have worked with the company.
Due to advantageous government policies, increased electricity consumption, and growing use of renewable energy, India’s solar industry is expanding quickly. The acquisition puts BlackSoil in a position to help India’s sustainable energy goals and provide access to tailored financing solutions through a partner-led B2B2C model, since financing is still a crucial enabler of this change.
Regarding the acquisition of Credit Fair’s solar financing business, Ankur Bansal, Managing Director, BlackSoil, said, “Through this acquisition, we are strengthening our renewable energy portfolio while expanding into a high-growth B2B2C financing ecosystem. It enables us to work closely with solar ecosystem partners and provide customers with seamless access to financing solutions. We see significant opportunities in renewable energy and look forward to building on the strong foundation that Credit Fair has created.”
Aditya Damani, Founder & CEO of Credit Fair, said, “We built this solar financing business to make renewable energy more accessible. As we take this next step, we are pleased to see the business become a part of BlackSoil, which shares our vision of expanding access to clean energy financing. We are confident the platform is well positioned for its next phase of growth, with the potential to scale from financing 80 MW today to enabling 1 GW of distributed renewable energy capacity over time.”
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