Five Star Business Finance Limited, a Chennai, India–based fully-secured small business financing company focused on South India, raises USD$100M in funding.
The round was led by alternative asset firm TPG, with participation from existing investors Norwest Venture Partners, an investment fund managed by Morgan Stanley, and Sequoia Capital. The company’s first investor, Matrix Partners India, continues to stay invested in the company.
Led by D. Lakshmipathy, Chairman and Managing Director, Five Star is a non-bank finance company providing loans to nearly 40,000 customers. The company focuses on lending to the under-banked population, which typically lacks the financial records necessary to participate in the organized financial sector. Customers include small business owners such as single shop retailers like vegetable vendors, provision stores, food retailers and self-employed individuals.
Founded in 1984, Five Star manages approximately Rs. 1220 crores in assets across more than 150 branches in six states of India.
FinSMEs
20/08/2018