HFS Secures Rs 800 Crore Boost from Vitruvian Partners
Hiranandani Financial Services secured Rs 800 crore in funding from Vitruvian Partners. This investment will help expand its presence in smaller cities and enhance technology and talent investments. Founded by Harsh Hiranandani, HFS combines digital and on-the-ground approaches to deliver financial services.
- Country:
- India
Small business financier Hiranandani Financial Services (HFS) announced on Tuesday a substantial Rs 800 crore investment from investment firm Vitruvian Partners.
The funding, facilitated through Vitruvian's Singapore platform, grants the firm a minority stake in HFS, according to their official statement.
Established by Harsh Hiranandani, son of real estate magnate Surendra Hiranandani, HFS aims to use the funds to extend its reach into smaller cities with secured lending products and enhance its technological and talent capabilities.
HFS operates with a direct-to-consumer model, leveraging extensive data sources, automated credit rules, mobile-first assisted onboarding, and real-time KYC to streamline borrower underwriting.
Kartikeya Kaji, leading Vitruvian's India investing team, highlighted the scalability and resilience of HFS's hybrid model, which merges physical presence with a robust digital platform.
Harsh Hiranandani emphasized that the new funding supports the company's goal to become the most trusted non-banking financial company for micro, small, and medium-sized enterprises in India.
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