Easy Home Finance, a leading player in the home financing sector, has successfully raised $35 million in a new funding round. The round was led by Ranjan Pai’s family office, Claypond Capital, along with participation from Sumitomo Mitsui Banking Corporation’s Asia Rising Fund. Existing investors, including Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, also joined the round.
This fresh capital infusion takes the total funds raised by Easy Home Finance to over $100 million in equity and debt. The company plans to leverage this new funding to scale its assets under management (AUM) to $300 million within the next two years. Additionally, it aims to expand its operational footprint to over 150 locations across India, responding to the growing demand for accessible and efficient home financing solutions.
Based in Mumbai, Easy Home Finance specializes in home loan disbursement, along with services related to home discovery, renovation, and moving assistance. The company has facilitated over Rs 500 crore in loans through third-party lenders, assisting approximately 5,000 families in achieving homeownership.
For the fiscal year ending March 2024, Easy Home Finance reported a significant 90% increase in revenue, reaching Rs 63.73 crore, up from Rs 33.38 crore in the previous year. The company also remained profitable, with profits rising by 10.8% to Rs 5.23 crore.
This funding round comes amidst a flurry of activity in the home finance sector, with competitors like Basic Home Loan and Vridhi Home Finance also raising significant capital to fuel their growth.
With its strong backing and clear growth strategy, Easy Home Finance is poised to play a central role in transforming the home financing landscape in India.
