Hero FinCorp

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.^[3]

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.^[4]

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.^[5] ChrysCapital acquired an 11% stake in Hero FinCorp while Credit Suisse obtained around 2.5%, valuing the company around ₹5,200 crore.^[6]

Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers.^[4] 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.^[7]

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.^{[8][9][10][11][12]}