Five Star NBFC raises $50 million from new and existing investors

Five Star NBFC raises $50 million from new and existing investors

Chennai-based Non-Banking Financial Company (NBFC) Five Star Business Finance has raised $50 million (about Rs 333 crore) in equity from its new and existing investors.

The brand offers secured loans in the sub Rs 10 lakh segment and it initiated the funding to fuel its growth.

Reportedly, Five Star has received fund from its news investors such as Norwest Venture Partners and Sequoia Capital.

Its existing investor base namely Matrix Partners and a fund managed by Morgan Stanley Private Equity Asia have also transferred some fund to the NBFC.

The recent transactions reported includes Rs 318 crore of primary infusion and Rs 15 crore of secondary sale of shares.

The amount invested by Norwest Venture Partners and Sequoia Capital stands at Rs 135 crore each. Rest of the amount has been funded by the existing investors.

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