Mumbai: Bike Bazaar Finance, an arm of Bike Bazaar, India’s first two-wheeler life cycle management company, has disbursed Rs 100 crores worth of loans for the Hero MotoCorp of range of motorcycles and scooters in the month of November 2021.
The company has an ongoing alliance with Hero MotoCorp, the world’s largest manufacturer of motorcycle and scooters, to facilitate fast and flexible loans primarily in the rural areas focused on customers who don’t have access to organized retail finance.
Mr. Naveen Chauhan, Head – Sales & After Sales, Hero MotoCorp, said, “Bike Bazaar finance has been associated with us since 2019, adding immense value to our dealers & customers, especially in the rural market. Their unique offering of Direct Collection Model in rural market has been well accepted by both our customers & channel partners. We are extremely excited about their expansion and achievement of Rs 100 crore-loan disbursal in a month.”
Commenting on the same, Mr. V Karunakaran, Co-Founder & Jt. MD – Bike Bazaar, said, “It took us three months to hit our first Rs One Cr disbursal in 2017 and today we have reached a level of Rs 100 Cr disbursal in a month. This has been a great milestone for us that would not have been possible without the support of Hero MotoCorp team & its network partners. We are committed to building upon our unique offering and expand further to add value to our network & OEM partners.”
Bike Bazaar Finance has marked its footprint over more than 400+ locations across states of Uttar Pradesh, Bihar, Madhya Pradesh, Haryana, Rajasthan, and West Bengal. The company plans to strengthen its focus in these states and cover more than double the current locations by the next financial year.