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BlackSoil said it backed the transaction citing Mintoak's banking partnerships, profitable growth and scalable business model.
The SoftBank-backed company's net profit, however, rose 21% increase to Rs 724 crore in FY26 from Rs 597 crore in FY25.
Under the agreement, BlackSoil will absorb the entire solar financing vertical, including its leadership team, technology stack, brand assets and operational framework.
The platform's secretariat will be jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
The company will use the fresh capital to boost financing for solar energy solutions across rural India.
Eversource Capital and FMO, a Dutch entrepreneurial development bank participated in the funding round.
The acquisition will help Credlix boost its credit offerings for MSMEs and homegrown exporters.
Earlier in February this year, CreditAccess had raised $50 million from International Finance Corp (IFC).
The company will use the fresh capital to scale up its trade finance platform and its volume.
Fibe, formerly known as EarlySalary, will use the fresh capital to strengthen and expand the platform's lending capabilities.
Announcing the development, Ohm Mobility founder said the company is winding down operations after it failed to scale and sustain the business.
The company also aims to boost its loan portfolio and strengthen its presence in secondary and tertiary cities across India.
The fresh capital will help the company boost its secured loan portfolio, strengthen its proprietary SaaS lending platform and expand its presence in underserved regions.
KredX becomes the fifth platform in the country to launch its invoice discounting solution under the brand name 'DTX' (Domestic Trade Exchange) on TReDS.
BillMart will integrate EQARO’s guarantee products into its fintech platform to provide businesses with secured financing options.
The company's losses for the fiscal were Rs 395.8 crore from Rs 509.83 crore in FY23.
