Invested February 25, 2020
Hero FinCorp is a leading Indian non-bank finance company (NBFC) with a diversified loan book comprised of retail, SME and corporate loans.
The company was founded as the lending arm of Hero MotoCorp Limited, the leading two-wheeler manufacturer in India, and has emerged as one of the leading NBFCs in India with over 2.5 million active customers. The relationship with Hero MotoCorp provides the Company with one of the deepest distribution networks in Indian financial services with 3,100+ retail touchpoints across 27 states and 1,700 cities in India with the majority of these locations in rural and semi-rural locations.
Hero FinCorp also has an AA+ credit rating allowing the company to have one of the lowest cost of funds in the industry. In addition, Hero FinCorp is improving financial inclusion in India by extending credit to underbanked communities, particularly those in rural areas, with c. 70% of retail loan customers being new to credit.
New Delhi, India
Non-Bank Finance Company
Apis Growth Fund II