Mortgage startup Easy has raised $15 million to provide quick home loans in a matter of days
- The Series A funding round was led by private equity firm Xponentia Capital.
Easyaims to cross $150 million AUM over the next two years.
- It provides fully insured home loans to protect consumers against vulnerabilities.
The financing round was led by private equity firm Xponentia Capital, with participation from existing investors Harbourfront Capital, Finsight VC, RaSa Future Fund, Navida Capital AB, Helena Wasserman Eriksson and Integra Software.
Serial entrepreneur and investor Rohit Chokhani founded the company in August 2018. It operates across geographies in both online and offline models and provides instant financing on home loans.
AdvertisementThe company, registered under National Housing Board (NHB), provides fully insured home loans to protect consumers against vulnerabilities in situations like COVID-19.
“We have developed an in-house property intelligence tech combined with credit tech, [through which] we are able to deliver a seamless consumer experience within minutes and not days. We have seen our fastest client from origination to moving-in the property in 2 days,” Chokhani, founder and director of Easy said.
Easy aims to cross $150 million assets under management (AUM) over the next 24 months and expand its network to more than 100 locations pan India.
“Mortgage is the most important financing decision for any family. Customers of Easy can focus on things that matter and not worry about drudgery and paperwork. Buying a house is what it should be -- a delightful experience,” P R Srinivasan, managing partner at Xponentia Capital Partners LLP, said.
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