Easy Home Finance, a prominent player in the home financing sector, has successfully raised $35 million in a recent funding round led by Ranjan Pai’s family office, Claypond Capital, along with the Asia Rising Fund from Sumitomo Mitsui Banking Corporation. This funding round also saw participation from existing investors such as Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund.
Total Funding and Future Goals
With this latest capital injection, Easy Home Finance has now raised over $100 million in total equity and debt funding. The company aims to expand its assets under management (AUM) to $300 million within the next 24 months. Furthermore, it plans to increase its operational footprint to over 150 locations across India to meet the growing demand for accessible home financing solutions.
Business Model and Performance
Based in Mumbai, Easy Home Finance focuses on providing home loan disbursements and related services, which include home discovery, renovation, and moving assistance. The company has facilitated more than Rs 500 crore in loans through third-party lenders, assisting approximately 5,000 families in achieving homeownership.
For the fiscal year ending in March 2024, Easy Home Finance reported a significant 90% increase in revenue, rising to Rs 63.73 crore from Rs 33.38 crore in the previous year. The company also maintained profitability, with profits increasing by 10.8% to Rs 5.23 crore.
Market Context and Recent Trends
The fundraising news comes amid a wave of capital-raising efforts in the home finance sector. Recently, home finance startup Basic Home Loan raised $10.6 million in a Series B funding round, while Vridhi Home Finance was also in the process of raising over $35 million led by Norwest Venture Partners.
As the demand for home financing solutions continues to grow in India, Easy Home Finance is well-positioned to leverage its recent funding to expand its services and enhance its market presence.
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