Easy Home Finance is a startup from India that was founded in 2017. The company aims to make home financing easy, transparent, and affordable for everyone. Here is a look at its foundation story.
When Easy Home Finance was founded, the goal was clear: to re-engineer the mortgage process from the ground up. The founders wanted to make homeownership easy and hassle-free for millions of people in India. Their vision is to fulfill India's dream of "Housing for All" by providing easy access to home loans at competitive interest rates[3>.
The company started with a simple yet ambitious idea: to use technology to make the home financing process faster and more user-friendly. This vision has driven the company's growth and innovation since its early days.
The founders believed that homeownership should be easy, transparent, and low-cost for all. This belief has been the cornerstone of Easy Home Finance's operations and has guided its decisions and strategies over the years[1).
The founding team of Easy Home Finance includes individuals with a strong background in finance and technology. While specific details about the founders' personal backgrounds are not extensively available, it is clear that they have a deep understanding of the home finance sector and a passion for using technology to improve it[4).
The team is led by experienced professionals who have a vision for transforming the home finance industry. Their leadership and expertise have been crucial in driving the company's growth and innovation.
The company also has a stellar Board of Directors who support the vision and mission of Easy Home Finance. This strong leadership has helped the company navigate the complexities of the home finance market and achieve significant milestones[3).
Since its inception, Easy Home Finance has undergone significant evolution. Here’s a look at how the company has grown and expanded its services over the years.
Easy Home Finance started by focusing on the mortgage process and how it could be improved using technology. The company pioneered India’s first online mortgage experience, which revolutionized the industry. Today, it is a leading player in the home finance sector, helping thousands of families achieve homeownership[1).
The initial concept was to make the home financing process faster and more user-friendly. Over time, the company has expanded its services to include home discovery, renovation, and moving assistance. This comprehensive approach has made Easy Home Finance a one-stop solution for home buyers[2).
The company has also grown in terms of its operational network. It plans to extend its operations to over 150 locations across India to cater to the rising demand for accessible home financing solutions[2).
Easy Home Finance has achieved several key milestones since its founding. Here are some of the most significant ones:
These milestones reflect the company’s growth and its commitment to providing accessible home financing solutions.
Easy Home Finance has expanded its product portfolio significantly since its inception. Here are some of the key services it offers:
This expanded product portfolio has made Easy Home Finance a comprehensive solution for home buyers in India.
Technology plays a crucial role in Easy Home Finance’s operations. Here’s a look at the company’s technology infrastructure and how it innovates in its industry.
Easy Home Finance uses cutting-edge technology to make the home financing process easy and efficient. The company’s platform is designed to be user-friendly and fast, allowing customers to apply for home loans online and track their applications in real-time[1]).
The platform leverages innovative technologies to streamline the mortgage process, reducing the time and effort required for home loan applications. This has made the company a leader in the affordable home loan industry[3]).
The core platform architecture is built around the customer, ensuring that the interests of all stakeholders are taken care of. This customer-centric approach has been key to the company’s success and growth[3]).
Easy Home Finance takes security and compliance very seriously. The company is registered with the National Housing Bank (NHB) under section 29A of the National Housing Bank Act, 1987, and has a Certificate of Registration No. 07.0173.18 dated July 31, 2018[1][3]).
The company adheres to strict security and compliance standards to protect customer data and ensure that all transactions are secure. This framework is essential for maintaining trust and confidence among customers and stakeholders.
By complying with regulatory requirements, Easy Home Finance ensures that its operations are transparent and reliable, which is crucial in the home finance sector.
Easy Home Finance has been at the forefront of innovation in the home finance industry. Here are some ways the company has innovated:
These innovations have set Easy Home Finance apart in the industry and contributed to its growth and success.
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Easy Home Finance has made a significant impact on the home financing market in India. Here’s how they are growing and expanding their services.
Easy Home Finance has seen a substantial increase in its user base over the years. The company has facilitated over Rs 500 crore in loans, helping approximately 5,000 families achieve homeownership[7][8][4>.
This growth is largely due to their digital-first approach and efficient loan disbursal process. According to Rohit Chokhani, Managing Director of Easy Home Finance, some clients have completed the entire process, from loan origination to moving in, on the same day[7][8][5>.
The company targets buyers who need home loans between Rs 10 lakh to Rs 50 lakh, typically first-time homebuyers in the peripheries of major cities like Mumbai and Bengaluru[8][4>.
Easy Home Finance is expanding its market share by increasing its operational footprint. With the new funding, the company plans to expand its presence to over 150 locations across India[6][7][4>.
This expansion will help cater to the growing demand for accessible home financing solutions. The company aims to scale its assets under management (AUM) to $300 million within the next two years[6][7][4>.
By extending its reach, Easy Home Finance is set to play a central role in transforming the home financing landscape in India[1>.
Easy Home Finance is committed to financial inclusion initiatives. The company sources about 25% of its applications digitally through online platforms and another 25% through government partnerships, targeting homebuyers in government housing schemes[3>.
This approach helps in making home financing accessible to underserved communities. Shyam Powar, CIO of Claypond Capital, noted that Easy Home Finance is enabling real-time credit appraisals and seamless digital property validations, simplifying access to home credit[8].[5>.
Their technology-driven approach empowers these communities by enhancing the overall borrowing experience[8].[5>.
Easy Home Finance has had a remarkable financial journey, marked by significant growth and profitability. Here’s a look at their revenue growth, path to profitability, and investment rounds.
In the fiscal year ending March 2024, Easy Home Finance reported a 90% increase in revenue, reaching Rs 63.73 crore from Rs 33.38 crore in the previous year[6][7][4>.
This substantial growth reflects the company’s successful strategy and increasing demand for its services. The revenue increase is a testament to the company’s ability to scale efficiently and meet market demands[6][7][4>.
The company’s financial performance has been robust, indicating a strong foundation for future growth[6][7][4>.
Easy Home Finance has also remained profitable, with profits rising by 10.8% to Rs 5.23 crore in the fiscal year ending March 2024[6][7][4>.
The company’s profitability is a result of its efficient operations and effective use of technology to streamline processes. This profitability ensures the company’s sustainability and ability to invest in further growth[6][7][4>.
By maintaining profitability, Easy Home Finance is well-positioned to continue its expansion plans and enhance its services[6][7][4>.
Easy Home Finance has raised significant capital to fuel its growth. The latest funding round of $35 million was led by Ranjan Pai’s family office, Claypond Capital, and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund[6][7][4>.
Existing investors, including Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, also participated in the round[6][7][4>.
This new funding brings the total capital raised by Easy Home Finance to over $100 million in equity and debt, providing a strong financial base for future expansion[6][7][4>.
Easy Home Finance has formed several strategic partnerships to enhance its services and reach. Here’s a look at their banking collaborations, merchant partnerships, and technology alliances.
Easy Home Finance has strong banking collaborations that support its operations. The company’s latest funding round was led by Ranjan Pai’s family office, Claypond Capital, and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund[6][7][4>.
These partnerships enable Easy Home Finance to access a broader financial network and leverage the expertise of these institutions to improve its services[6][7][4>.
The collaboration with Sumitomo Mitsui Banking Corporation, for instance, brings in global banking expertise, further solidifying the company’s financial foundation[6][7][4>.
Easy Home Finance partners with various merchants and real estate brokers to source loan applications. About 25% of their applications come through government partnerships, targeting homebuyers in government housing schemes[3>.
The rest of the applications are sourced through real estate brokers and aggregators, ensuring a diverse and robust pipeline of potential clients[8].[4>.
These partnerships help in reaching a wider audience and providing comprehensive services to homebuyers[8].[4>.
Easy Home Finance has integrated technology into its mortgage services to streamline the process for customers. The company uses proprietary prop-tech and credit-tech platforms to deliver quick and seamless loan disbursals[7][8][5>.
This technology-driven approach allows for real-time credit appraisals and digital property validations, making the home financing process more efficient and accessible[7][8][5>.
The Rainmaker Group served as the sole advisor to Easy Home Finance for the latest funding round, highlighting the company’s commitment to leveraging technology for growth[5>.
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