Chennai-headquartered – Five Star Business Finance Ltd has secured ₹1,700 crore ($234 million) from a KKR-led consortium.
The funding round saw participation from existing investors – Sequoia Capital India, Norwest Venture Partners along with new investors – KKR and TVS Capital, among others.
The funding will also be made through sales of secondary shares by Morgan Stanley Private Equity, existing investor of the company.
Five Star have been working as a specialized financial services company in addressing the needs of this segment, funding the people. Its customers include all the way from small shop owners, flower vendors, maids, masons to small and medium enterprises.
It is a registered Non Banking Finance Company (NBFC) with the Reserve Bank of India (RBI).
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.