Hero FinCorp
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| Industry | Financial services |
|---|---|
| Founded | 1991  |
| Headquarters | , |
| Key people | Abhimanyu Munjal, CEO |
| Products | Personal loans, Two Wheeler Loan, Loan Against Property, UnSecured loan, SME & Commercial Loans |
| Services | Unified Payments Interface |
| Rating | AA+ / Stable (CRISIL[1] and ICRA[2]) |
| Website | herofincorp.com |
Hero FinCorp is an Indian non-banking financial company (NBFC) and an associate company of Hero MotoCorp. It provides consumer finance services, including financing for Hero MotoCorp vehicles, Personal Loan and loans against property.[3][4] It is also engaged in commercial lending, such as working capital loans and machinery loans.
History
[edit]
The company was launched in 1992 as Hero Honda Finlease Ltd by extending working capital loans and medium-term finance to component suppliers and dealers of parent firm Hero MotoCorp, then called Hero Honda Motors Ltd.[5]
In 2011, as Hero Honda Motors was restructured, the company was renamed Hero FinCorp and acquired its present form. By April 2013, the company began giving two-wheelers loans to customers. In 2014, it ventured into loans against property, loans for small and medium enterprises and commercial loans.[6]
In September 2016, Hero FinCorp raised about ₹1,002 crore, out of which ₹702 crore was raised from ChrysCapital and Credit Suisse, while the remaining ₹300 crore was raised from the Hero Group.[7] ChrysCapital acquired an 11% stake in Hero FinCorp while Credit Suisse obtained around 2.5%, valuing the company around ₹5,200 crore.[8]
Services
[edit]Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers.[6] It also provides financing options for its existing customers who have availed loans to purchase two-wheelers from Hero MotoCorp. The company later started financing of used cars.[9]
The company provides loans against property to corporates, partnership firms and self-employed individuals.[citation needed]
In early 2020, the company launched SimplyCash app and entered the instant cash loan segment.[10][11][12][13]
References
[edit]- ↑ "CRISIL Rating - Hero FinCorp Ltd." CRISIL Rating. Retrieved 2026-01-23.
- ↑ "ICRA Rating - Hero FinCorp Ltd." ICRA Rating. Retrieved 2015-11-10.
- ↑ "How Hero FinCorp Makes Money: Breaking Down the NBFC’s Multi-Segment Lending Playbook" How Hero FinCorp Makes Money: Breaking Down the NBFC’s Multi-Segment Lending Playbook. Retrieved 2025-07-16.
- ↑ "Hero FinCorp Q1 FY26 Results: Financial Performance Analysis & Business Overview" Hero FinCorp Q1 FY26 Results. Retrieved 2025-08-14.
- ↑ "Hero FinCorp forays into retail financing" Economic Times, Mumbai, 03 May 2013. Retrieved on 06 November 2015.
- 1 2 "Hero FinCorp Ltd." Livemint. Retrieved 2015-11-06.
- ↑ Paladhi, Arijit (15 September 2016). "Hero FinCorp raises Rs1,000 crore from ChrysCapital, others". livemint.com/. Retrieved 24 May 2017.
- ↑ "Hero FinCorp raises $105 mn from ChyrsCapital, Credit Suisse". VCCircle. 19 September 2016. Retrieved 24 May 2017.
- ↑ "CarDekho, Hero FinCorp to bring innovative loan offers on used cars - ET Auto".
- ↑ "Yahoo Search - Web Search".
- ↑ "India's millennials are spending more responsibly; borrowed most for home repair & medical emergencies".
- ↑ "India's millennials spending more responsibly; borrowed most for home repair, medical emergencies".
- ↑ "PR Newswire".
External links
[edit]- Hero FinCorp at Bloomberg
- News on Hero FinCorp at Mint