Proptech company Housing.com said it is investing in fintech startup Easiloan as part of its plans to create India’s largest digital home loan origination platform. However, it didn’t disclose the investment amount.
Founded in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalised home loan solutions.
It claims to have collaborated with over 20 banks across India for offering loans. The marketplace employs customer profile-based matchmaking, enabling users to compare, select, and process home loans seamlessly through partnerships with brokers, developers, and other digital channels.
The partnership with Housing.com will help it get access to the latter’s market reach and digital presence. It will also broaden the reach of Easiloan’s mortgage products to Housing.com’s network of brokers and developers.
Commenting on the move, Housing.com’s group CEO Dhruva Agarwala said, “Housing.com is committed to offering its customers and consumers an exhaustive suite of real estate services, and this partnership with Easiloan marks a seminal step in that direction.”
Speaking on the home loan ecosystem in India, he said technological advancement and the Indian government’s commitment to digitisation in the lending sector will profoundly transform the home loans landscape in the forthcoming years, and Housing.com aims to leverage this opportunity.
Founded in 2012, Housing.com is a real estate advertising platform for homeowners, landlords, developers, and real estate brokers. It was acquired by REA India, which also operates PropTiger.com and Makaan.com in 2017.
On the other hand, Easiloan previously raised seed funding from Tomorrow Capital in 2021.
“With the Indian fintech industry projected to be worth $150 billion by 2025 and the real estate market projected to reach $1 trillion by 2030, we can collaboratively define new milestones in both areas,” Easiloan’s founder and CEO Kathuria said on Housing.com’s investment announcement.
Easiloan directly competes with BASIC Home Loan, which raised $4.7 Mn in its pre-Series B round in June this year.
Recently, another home loan startup Vridhi Home Finance secured INR 150 Cr in a round led by Elevation Capital for expansion in north Karnataka and Andhra Pradesh, strengthening the tech stack, hiring, and building a liability franchise.
According to Inc42’s analysis, the Indian digital lending market is estimated to reach $1.3 Tn by 2030 from $270 Bn in 2022 at a CAGR of 22%.
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