Partnership Overview
Quantum Energy, an electric scooter manufacturing company, announced a strategic partnership with Hero FinCorp, a diversified Indian non‑banking financial company (NBFC), to provide collateral‑free financing for its electric scooters across the country.
Financing Features
- The offering includes collateral‑free loans supported by instant EMI calculations and a fully digital, seamless onboarding process.
- Customers benefit from flexible repayment options, competitive interest rates and minimal processing fees.
- Access to financing is available 24×7 through a digital loan application, ensuring a fast, transparent and hassle‑free experience.
- Hero FinCorp leverages an AI‑led underwriting, analytics and marketing architecture to deliver this white‑glove financing experience.
Executive Statements
Mr. Chakravarthy Chukkapalli, Managing Director of Quantum Energy, stated that the partnership enables the company to further support customers with easy and transparent financing options, making electric mobility more accessible.
Mr. Abhimanyu Munjal, Managing Director & CEO of Hero FinCorp, highlighted the use of AI‑led underwriting and the company’s robust digital ecosystem, noting that the collaboration simplifies credit access for Indians and aligns with Hero FinCorp’s expanding focus on the EV sector, including Battery‑as‑a‑Service models.
Hero FinCorp Reach and Capabilities
Hero FinCorp operates across more than 18,600 Indian PIN codes, maintains a network of over 4,200 touchpoints, and serves customers in over 2,000 cities, towns and villages nationwide. To date, the NBFC has served more than 13 million customers across its retail, MSME and corporate lending portfolios.
Strategic Significance
The partnership combines Quantum Energy’s electric mobility solutions with Hero FinCorp’s technology‑driven financing expertise, aiming to accelerate the adoption of electric scooters as part of India’s transition toward sustainable transportation.