Digital real estate platform Housing.com has decided to make an investment in Easiloan, a fintech start-up focussing on digitising the home loan journey. Although the specific investment sum remains undisclosed, this partnership aims to lay the foundation for Housing.com’s plans to create India’s largest digital home loan origination platform, the companies said in a joint statement.
The partnership also targets to capitalise on Housing.com’s market-leading digital presence, while simultaneously broadening the reach of mortgage products to its network of brokers and developers. “This symbiotic collaboration is not just a value addition to our seller customers, but also augments user engagement on our platform and offers an avenue for enhanced revenue generation,” the company said in the statement.
Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com, and Makaan.com, said in the statement, “Housing.com is committed to offer its customers and consumers an exhaustive suite of real estate services, and this partnership with Easiloan marks a seminal step in that direction. Mortgages are an organic expansion within the digital real estate sphere, driven by the large customer base that we have cultivated on our platform.
“Technological advancement and the Indian government’s commitment to digitalisation in the lending sector will transform the home loan landscape in the forthcoming years, and we are committed to pioneering this revolution,” he further stated.
With estimates showing a 16 per cent growth in the overall home loan portfolio from December 2021 to December 2022, reaching a staggering $108.14 billion in disbursed loans in 2022 alone, housing credit in India is set for significant further growth in the coming years, claimed the statement.
“We are delighted to partner strategically with Housing.com. 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,” mentioned Pramod Kathuria, Founder and CEO, Easiloan.com, in the statement.
In September 2021, Easiloan had raised seed funding from Tomorrow Capital and demonstrated strong traction in terms of customer acquisition, loan disbursement and expansion in Mumbai, Pune and Bengaluru, the statement added.
Rohini Prakash, CEO, Tomorrow Capital, further said in the statement, “………The Easiloan brand uses a tech-first approach to deliver a superior home loan experience, from discovery to disbursement, for its customers. It continues to provide unparalleled benefits to multiple stakeholders including real estate developers and agents. We are glad to welcome Housing.com onboard in scaling the Easiloan platform further.”