Global PE firm TPG has led a $100-million investment in Chennai-based non-banking finance firm Five Star Business Finance Ltd.
Existing investors Norwest Venture Partners and Sequoia Capital are also investing in the round. The company’s first investor, Matrix Partners, continues to stay invested in the company, according to a statement.
Five Star provides loans to almost 40,000 customers. It focuses on lending to the ‘under-banked population’.
It manages approximately ₹1,220 crore in assets in more than 150 branches.
