SUMMARY
- Lending tech startup Easy Home Finance secures $35 million in Series B funding, led by Claypond Capital and Sumitomo Mitsui’s Asia Rising Fund.
- Funds will expand assets under management (AUM) to $300 million and increase Easy’s presence to 150 locations in India.
- Collaboration with SMFG India Home Finance to enhance digital mortgage accessibility and affordability in India’s housing market.
Mumbai-based fintech startup Easy Home Finance has raised $35 million in Series B funding, in a round co-led by Claypond Capital, the investment office of Manipal Group’s Ranjan Pai, and Japanese bank Sumitomo Mitsui’s Asia Rising Fund. The investment also saw participation from existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India.
The fresh capital will be used to scale Easy’s assets under management (AUM) to $300 million over the next 24 months and expand its network to more than 150 locations across India, aiming to digitize mortgage-backed loans and bring them to underserved communities.
Rohit Chokhani, founder and MD of Easy Home Finance, emphasized that the funding will accelerate the firm’s efforts to make home financing fully digital and accessible, thereby empowering more Indians to achieve homeownership. “We’re thrilled to bring this transformative approach to underserved communities, empowering more individuals to fulfill their dream of owning a home,” he stated.
The funding will also fuel a strategic partnership between Easy and SMFG India Home Finance Company, Sumitomo Mitsui’s mortgage subsidiary in India. The partnership aims to foster affordability and sustainability in India’s housing sector, leveraging Easy’s digital mortgage solutions.
Established in 2017 by Rohit Chokhani, Easy Home Finance is dedicated to revolutionizing the home loan market by offering paperless mortgage-backed loans and comprehensive financial services. Since its inception, Easy has raised over $100 million in equity and debt funding, including a $15 million Series A round led by Xponentia Capital in 2021.
This Series B round comes amidst growing interest in India’s lending tech sector, which has continued to attract investment despite a broader funding slowdown. Other notable recent investments include BASIC Home Loan’s $10.6 million Series B funding in September and Finova Capital’s $135 million Series E funding last month.
India’s lending tech industry is poised for significant growth, with the market projected to reach a value of $1.3 trillion by 2030.
