Private equity firm hands $105m to Indian lender Hero FinCorp

Indian lending firm Hero FinCorp has raised Rs702 crore ($105m) from private equity firm ChrysCapital and Credit Suisse.

The firm says it’s also received $45m from its parent company Hero Group.

Hero FinCorp is a non-banking financial company that offer loans to individuals for two-wheeled vehicles and property, as well as business lending for SMBs and medical equipment financing.

It says it has provided financing to more than 2,000 Small businesses to date and will use the capital to fuel expansion over the next 12 to 18 months and add new products.

The company also plans to partner with other fintech startups.

The deal values Hero FinCorp at $776m and will see ChrysCapital take an 11% stake in the firm while Credit Suisse will hold 2.5%.

Copyright © 2016 FINTECH GLOBAL

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