Hero FinCorp, the financial services arm of India’s largest two-wheeler maker Hero MotoCorp Ltd, started life as Hero Honda FinLease Ltd in December 1991. Today the financier offers two-wheeler loans, loans against property and SME & Commercial loans and is well on its way towards building India’s largest one-stop financial services company, with the addition of home loans and used car finance too.
CEO Abhimanyu Munjal claims on the company website that the financing company is now one of India’s fastest growing non-banking finance companies (NBFCs), disbursing more than 52 loans every hour, which means one two-wheeler financed every minute.
On the corporate front, it has a relationship with over 200 high growth companies and plans to expand its offerings and geographic presence in its future vision.
To fund its vision, Hero FinCorp plans to raise $100 million (Rs.650 crore) by selling a significant minority stake to private equity funds. Livemint reports that the company has hired global investment bank Credit Suisse to find buyers.
According to Hero MotoCorp’s FY15 annual report, the company has been expanding in a phased manner and its services will be available at over 730 dealerships across the country by the end of March 2016.
As per a Mint report, Hero FinCorp is expected to create a Rs.5,000-crore loan book by 2016-17, with a target of 650,000 customers. Fuelling its ambitious growth plans with the right communication is the brand’s first film – #KaroKhwabonSeIshq.
The minute-long film features people across the length and breadth of the country dreaming their big dreams. A woman wants to open a school while a man wants to start his factory, another woman is dreaming of her own restaurant business while a young man dreams about a bike and another wants his agriculture venture to work out.
Backed with rich lyrics in Hindi, the story now gets happier, dreams start taking root into reality and the peoples’ dreams are being fulfilled one by one. The lyrics change to a positive tone, with Hero FinCorp coming across as your partner in dreaming big. “Keh do aasmanon se, deewanein aye hain, mohabbat pe panna karne, deewanein aye hain, khwabon se hain ishq, hume khwabon se hain ishq.”
Hero FinCorp has started on the right foot with an excellent feel-good brand film. #KaroKhwabonSeIshq manages to convey the right message in a memorable one minute frame, without coming across like a boring advertisement for a loan company. It helps establish the brand as a partner in our journey towards fulfilling our dreams.
It’s been running YouTube embed ads for the TVC, but could do with a social media presence too, now that it’s looking forward to target the new age millennial who likes to dream big.