The start-up aims to use these funds to expand its digital-only product, customer acquisition channels and activate new markets.
“While fintech has disrupted every other loan product in India, home loans have remained unchanged. Not only are we making the home loan process end-to-end, our technology is ensuring that key stakeholders like lenders, developers and borrowers interact through our platform thus ensuring an efficient process. With the support of Tomorrow Capital, we will focus on expanding into new markets and customer acquisition channels and further improving our product experience,” said Pramod Kathuria, Co-Founder and CEO, easy.
EasyLoan provides a fully-digital front-end for banks to complete credit appraisal from sourcing to onboarding for home loan applications.
The Easiloan platform makes loan selection and application extremely easy and fast for customers, reducing the time taken to process home loan applications and increasing conversions for developers and banks.
The start-up has sanctioned more than 750 successful loans and is working with top 15 banks and housing finance companies in the market like HDFC Ltd,
, LIC, Axis Bank, SBI, PNB HF, to name a few.
“Esiloan’s current traction validates our thesis around the gaps in the home loan process. While the founders are focused on going deeper into home loans and solving it through technology, they are also about the potential value The know-how lies in acquiring and servicing customers for home loans and then nurturing them for all their lending needs for a lifetime, said Rohini Prakash, CEO, Tomorrow Capital.
The fund has set aside a corpus of Rs 100 crore over the next 12 months as a fresh round of investment in new-age start-ups.