Hero FinCorp
{{Short description|Indian financial institution}}
{{Unreliable sources|date=April 2025}}
{{DISPLAYTITLE:Hero FinCorp}}
{{Use Indian English|date=November 2015}}
{{Use dmy dates|date=November 2015}}
{{Infobox company
| name = Hero FinCorp Ltd
| logo = Hero_FinCorp_Logo.svg
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| industry = Financial services
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| hq_location_city = New Delhi
| hq_location_country = India
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| key_people = Abhimanyu Munjal, CEO
| products = Two Wheeler Loans
Loan Against Property
SME & Commercial Loans
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| rating = AA+ / Stable (CRISIL[http://www.crisil.com/ratings/company_fact_sheet.jsp?ID=HEROHON "CRISIL Rating of Hero FinCorp Ltd."] CRISIL Rating. Retrieved 2015-11-10. and ICRA[http://www.icra.in/search.aspx?word=hero "ICRA Rating - Hero FinCorp Ltd."] ICRA Rating. Retrieved 2015-11-10.)
| website = {{url|http://www.herofincorp.com|Hero Fincorp}}
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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 and loans against property. It is also engaged in commercial lending, such as working capital loans and machinery loans.
History
File:Hero FinCorp Logo New Final 2013 Vertical Wiki.png
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.[https://web.archive.org/web/20130504110644/http://articles.economictimes.indiatimes.com/2013-05-02/news/38983751_1_dealers-hmcl-hero-motocorp "Hero FinCorp forays into retail financing"] Economic Times, Mumbai, 03 May 2013. Retrieved on 06 November 2015.
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.
In September 2016, Hero FinCorp raised about {{INR}}1,002 crore, out of which {{INR}}702 crore was raised from ChrysCapital and Credit Suisse, while the remaining {{INR}}300 crore was raised from the Hero Group.{{Cite news|url=http://www.livemint.com/Companies/g7MXyNOnPjvBltmpnxPVhM/Hero-FinCorp-raises-Rs1000-crore-to-expand-and-diversify-bu.html|title=Hero FinCorp raises Rs1,000 crore from ChrysCapital, others|last=Paladhi|first=Arijit|date=2016-09-15|work=livemint.com/|access-date=2017-05-24}} ChrysCapital acquired an 11% stake in Hero FinCorp while Credit Suisse obtained around 2.5%, valuing the company around {{INR}}5,200 crore.{{Cite news|url=https://www.vccircle.com/hero-fincorp-raises-105-mn-chyrscapital-credit-suisse/|title=Hero FinCorp raises $105 mn from ChyrsCapital, Credit Suisse|date=2016-09-19|work=VCCircle|access-date=2017-05-24|language=en-US}}
Services
Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers.[http://www.livemint.com/Companies/1VEFsrklOQSYfs3X9lFHyO/Hero-FinCorp-plans-minority-stake-sale-to-raise-100-million.html "Hero FinCorp Ltd."] Livemint. Retrieved 2015-11-06. 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.{{Cite web|url=http://auto.economictimes.indiatimes.com/news/aftermarket/cardekho-hero-fincorp-to-bring-innovative-loan-offers-on-used-cars/60827398|title = CarDekho, Hero FinCorp to bring innovative loan offers on used cars - ET Auto}}
The company provides loans against property to corporates, partnership firms and self-employed individuals.{{Citation needed|date=June 2022}}
In early 2020, the company launched SimplyCash app and entered the instant cash loan segment.{{Cite web|url=https://www.herofincorp.com/blog/simply-cash-one-stop-solution-for-all-your-instant-cash-requirements|title = Simply Cash-One stop solution for all your instant cash requirements}}{{Cite web|url=https://in.finance.yahoo.com/news/indias-millennials-spending-more-responsibly-073642677.html|title=Yahoo Search - Web Search}}{{cite web| url = https://www.prnewswire.com/in/news-releases/india-s-millennials-are-spending-more-responsibly-borrowed-most-for-home-repair-amp-medical-emergencies-824525589.html| title = India's millennials are spending more responsibly; borrowed most for home repair & medical emergencies}} {{Cite web|url=http://www.businessworld.in/article/India-s-millennials-spending-more-responsibly-borrowed-most-for-home-repair-medical-emergencies/17-02-2021-378542/|title=India's millennials spending more responsibly; borrowed most for home repair, medical emergencies}}{{Cite web|url=https://www.indiatoday.in/pr-newswire?rkey=20210217EN82213&filter=4315|title = PR Newswire}}
References
{{Reflist|2}}
External links
- [https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=31230537 Hero FinCorp] at Bloomberg
- News on [http://www.livemint.com/Search/Link/Keyword/Hero%20Fincorp Hero FinCorp] at Mint
{{Financial services in India}}
Category:Financial services companies of India
Category:Financial services companies established in 1991
Category:1991 establishments in Delhi