Easy Home Finance raises $35 million in Series B funding
06 Nov 2024, 04:48 PMThe latest round brings the total capital infusion into the company to over $100 million in equity and debt financing.
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Home finance company Easy has raised $35 million in its Series B funding round led by Claypond Capital and Sumitomo Mitsui Banking Corporation’s (SMBC) Asia Rising Fund.
Existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund also participated in the round.
The latest round brings the total capital infusion into the company to over $100 million in equity and debt financing.
Easy, which provides home loans to India’s middle-income consumers, plans to use the fresh funds to expand its assets under management (AUM) to $300 million within the next 24 months. Easy Home Finance also offers related services such as home discovery, renovation, and moving assistance. The company claims to have processed more than Rs 500 crore in loans, in partnership with third-party lenders.
The Mumbai-based company, supported by a consortium of over 20 banks and financial institutions, also plans to grow its network to over 150 locations across India.
Speaking on the latest round, Rohit Chokhani, MD, Easy Home Finance said, "The funding will propel our efforts to make home financing truly digital, efficient, and accessible. By leveraging advanced data insights, our in-house technology suite not only simplifies the loan process but also accelerates the journey from loan origination to homeownership.”
In September, another home finance startup Basic Home Loan raised $10.6 million in a Series B funding round.
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