Matrix invests in micro and small business financier FSBC

Tags: FSBC, Matrix, News
Venture capital fund Matrix today invested an undisclosed amount in micro and small business financier Five Star Business Credits (FSBC).

The fund infusion would be used to expand the branch network of the non-banking company, which has 30 branches across Tamil Nadu at present, it said.

FSBC has been doing secured lending to micro and small enterprises for the last five years, and boasts of a customer base of over 5,000.

Matrix Managing Director Rishi Nevani said that the company's "differentiated, secured and sustainable lending model to address the large, but under served micro, small and medium enterprise (MSME) financing opportunity" are some of the reasons which led to the investment.

According to the Matrix statement, there are nearly 60 million MSMEs in the country in the organised and unorganised sector.

"We have built a unique credit assessment model for deserving customers that run small, but healthy businesses. This round of funding should help us further expand our branch footprint and enhance our funding base for long-term expansion," FSBC Managing Director D Lakshmipathy said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture