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Small business financier Hiranandani Financial Services (HFS) on Tuesday said it has raised Rs 800 crore from investment firm Vitruvian Partners.
Vitruvian, which has backed the company through its Singapore platform, will get a minority stake in HFS, a statement said.
HFS was founded by Harsh Hiranadani, son of Surendra Hiranandani who has interests in the real estate sector.
The funding will help the NBFC deepen its footprint in smaller cities by offering secured lending products and also help the lender up its investments in technology and talent.
The company operates a direct-to-consumer model, using data from multiple sources, automated credit rule engines, mobile-first assisted onboarding, and real-time KYC (know your customer) to underwrite borrowers.
"The company's hybrid model, combining an on-the-ground presence with a strong digital technology stack, has proven both scalable and resilient," Kartikeya Kaji, who leads Vitruvian's India investing team, said.
Harsh Hiranandani said the funding advances its journey to build India's most trusted NBFC platform for micro, small and medium enterprises.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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