New Delhi–Hero FinCorp Ltd. (HFCL) on Thursday announced it has raised over Rs 1,000 crore to meet growing demand of credit services for the next 12-18 months.

ChrysCapital invested Rs 570 crore in the non-Banking Finance Company while Hero Group infused Rs 300 crore. Credit Suisse made Rs 132 crore equity investment in the company.

“The fresh investments that we have received are going to significantly contribute towards our expansion plans. We have now geared-up for the next phase of growth and aims to grow its asset book to Rs 35,000 crore by year 2020,” said the lender’s Joint Managing Director and Chief Executive Officer Abhimanyu Munjal.

The company has also provided financing to over 2,000 small and medium-sized enterprises (SME), with no or limited credit histories.