Housing.com, a prominent digital real estate platform in India, is set to invest in EASILOAN, a fintech start-up specializing in digitizing the home loan process. While the exact investment amount remains undisclosed, this collaboration aims to establish India's largest digital home loan origination platform. Housing.com, owned by REA India, intends to leverage its extensive digital presence and expand the reach of mortgage products through this partnership. EASILOAN has previously secured seed funding from Tomorrow Capital and has shown strong growth in customer acquisition and loan disbursement. This partnership is expected to play a pivotal role in both the fintech and real estate sectors' evolution in India.
Housing.com, a leading digital real estate platform in India, has announced a strategic investment in EASILOAN, a fintech start-up specializing in streamlining the home loan process. Although the specific investment amount remains undisclosed, the partnership aims to establish India's largest digital home loan origination platform. Housing.com is under the umbrella of REA India, which also controls PropTiger.com and Makaan.com, making it a key player in India's digital real estate market. REA India is a subsidiary of the global conglomerate, REA Group Ltd.
EASILOAN, founded in 2021 by Pramod Kathuria, is a digital home loan marketplace that offers personalized, end-to-end home loan solutions by collaborating with over 20 banks across India. The platform utilizes customer profile-based matchmaking, enabling users to seamlessly compare, select, and process home loans. EASILOAN has strategically positioned itself for significant customer acquisition through partnerships with brokers, developers, and various digital channels.
This partnership is designed to leverage Housing.com's robust digital presence while simultaneously expanding the reach of mortgage products to its network of brokers and developers. The collaboration is expected to provide added value to seller customers and enhance user engagement on the Housing.com platform, offering avenues for increased revenue generation.
The home loan market in India exhibits promising growth, with estimates showing a 16% increase in the overall home loan portfolio from December 2021 to December 2022, resulting in a total of $108.14 billion in disbursed loans in 2022 alone. This suggests significant further growth for housing credit in India in the years ahead.
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