New Delhi based small business financier Hero FinCorp has secures $105m in venture funding led by ChrysCapital and Credit Suisse. Hero FinCorp provides financing to more than 2,000 small and medium-sized enterprises. It has presence in about 950 locations across India through more than 2,000 touch points, and plans to double the number of touch points by 2020.
Abhimanyu Munjal, CEO, Hero FinCorp Non-banking financial company (NBFC) Hero FinCorp Ltd said on Thursday it has raised Rs 702 crore ($105 million) from private equity firm ChrysCapital and Swiss financial services firm Credit Suisse to fuel expansion over the next 12 to 18 months. The Delhi-based company also got an additional Rs 300 crore from its parent Hero Group, it said in a statement. ChrysCapital will take an 11% stake in Hero FinCorp while Credit Suisse will hold around 2.5%. The transaction values the company around Rs 5,200 crore.
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