BlackSoil, an alternative credit platform, today announced that it has invested INR 4 Crore into Awign Enterprises Private Limited as a venture debt facility. Awign has previously closed its pre-series B round from Unitus Ventures, Michael & Susan Dell Foundation, Lumis Partners, and Eagle10. Company has over 100 clients which includes Swiggy, ITC, Big Basket, Britannia, and Aditya Birla Capital amongst others. The fresh raise will be used for working capital requirements and business expansion.

Founded in 2016 by IIT-alumni Annanya Sarthak, Gurpreet Singh, and Praveen Sah, Awign Enterprises operates as a work fulfilment platform focussed on gig workforce. Awign has a registered workforce of 6.5 lakhs gig workers across 450 cities in India and has completed over 50 lakh tasks to-date.

“We are extremely delighted to bring on board BlackSoil in Awign’s growth journey. The funds received will help us to scale up faster and will be used for working capital requirements and business expansion. We are hoping for many years of fruitful relationship with Blacksoil and looking to grow with investors who have put their belief behind our business model.” said Awign’s co-founder Annanya Sarthak.

“Awign has built an innovative model that delivers high value to the clients while providing employment and skilling opportunities to the Indian youth. Post-covid, there has been a wide adoption of gig workers and it is our pleasure to partner with Awign to help them grow in this disruptive industry pivoted for strong growth.” stated Ankur Bansal, Co-founder and Director, BlackSoil.

Awign fulfils on-the-ground tasks required by businesses through a network of skilled and trained gig workers, and the clients are billed based on successful outcomes as opposed to work hours. Awign’s clients operate in sectors including FMCG, BFSI, E-Commerce, FinTech, Ed-Tech, Assessments, and Logistics. The company also provides work opportunities to college students, graduates, and women wanting to come back to work and is solving for unemployment, under-employment, and skilling problems in the country.

BlackSoil is a sector agnostic alternative credit platform & recently raised INR 110 Crore in the first close for its maiden secured BlackSoil India Credit Fund and has deployed INR 950 Crore in last four years across 70+ transactions. Blacksoil’s portfolio includes OYO, Spinny, Purplle, Zetwerks, Vogo and TVF amongst others. 

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