Bike Bazaar Finance, the financial arm of Bike Bazaar, one of India’s leading two-wheeler life cycle management companies, has today announced that they have disbursed Rs 100 crore worth of loans for Hero MotoCorp’s range of motorcycles and scooters in the month of November 2021. Bike Bazaar has been associated with Hero MotoCorp since 2019 to facilitate fast and flexible loans primarily in the rural areas with a special focus on customers who don’t have access to organized retail finance.
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, V Karunakaran, Co-Founder & Jt. MD – Bike Bazaar, said, “It took us three months to hit our first Rs 1 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 the 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 is one of India’s leading two-wheeler financing companies with a strong presence in tier 2, tier 3 cities, and rural areas. The company’s financial arm has marked its footprint over more than 400+ locations across states of Uttar Pradesh, Bihar, Madhya Pradesh, Haryana, Rajasthan, and West Bengal. The company further plans to strengthen its focus in these states and cover more than double the current locations by the next financial year.