In a strategic move to strengthen its financial services arm, logistics major BlackBuck has infused Rs. 40 crore into its non-banking financial company (NBFC) subsidiary, BlackBuck Finserve Pvt Ltd (BFPL), through a rights issue.
BlackBuck Injects Rs. 40 Crore into NBFC Subsidiary BlackBuck Finserve
Enhancing Financial Inclusion:
This investment aims to enhance financial inclusion among small and medium-sized enterprises (SMEs) in the logistics sector, providing them with access to affordable financing options. BlackBuck Finserve will leverage this funding to expand its lending operations, offering a range of financial products tailored to the needs of logistics SMEs.
Expanding Financial Services:
BlackBuck Finserve, established in 2020, has been providing financial services to logistics players, including truck owners, drivers, and fleet operators. This investment will enable the NBFC to broaden its financial services portfolio, addressing the unique financial needs of the logistics ecosystem.
BlackBuck’s Logistics Expertise:
As a leading logistics company, BlackBuck brings its expertise in understanding the financial requirements of logistics SMEs. This investment demonstrates BlackBuck’s commitment to supporting the growth of logistics SMEs, which are critical to India’s economic development.
Future Plans:
With this funding, BlackBuck Finserve plans to expand its operations, increase its lending capacity, and develop new financial products catering to the evolving needs of logistics SMEs. The company aims to become a leading financial services provider in the logistics sector, driving financial inclusion and growth.
Stay tuned for more updates on BlackBuck’s financial services initiatives!
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