Hero Fincorp raises over Rs 1,000 crore

Non-banking financial company Hero FinCorp (HFCL) has raised over Rs 1,000 crore from ChrysCapital, Credit Suisse and Hero Group. The fund raised will be used to fuel expansion to support the unprecedented demand for customer-focused credit services over the next 12-18 months, HFCL said.

ChrysCapital led the current round of funding by investing Rs 570 crore, while Hero Group made an additional investment of Rs 300 crore. Credit Suisse’s participation to the tune of Rs 132 crore makes it the company’s most prominent equity investment in the country to date, HFCL said.