Easiloan.com, India’s AI-enabled fintech solution for home loans has raised its maiden round of INR 80 million from Tomorrow Capital. The start-up aims to utilize these funds for building further on their digital-only product, customer acquisition channels and activating new markets.
Pramod Kathuria, Co-founder and CEO, Easiloan said, “Innovation in lending technology has sparked a wave of disruption. With the pandemic accelerating this trend, several start-ups emerging in digital lending are gaining ground around the globe. While Fintech in India has disrupted every other loan product, home loan continues to remain unchanged. For the borrower, large parts of the process are a black box and for the developers any delay in disbursement is a direct hit on their balance sheet. Easiloan is solving this through its proprietary tech IP and a digital-only process. Not only are we managing the home loan process end to end, our tech is ensuring that key stakeholders such as the lender, developer and borrower interact through our platform thus ensuring an efficient process. With support from Tomorrow Capital, our focus will be to scale up into new markets and customer acquisition channels, and further improve our product experience.”
“The untapped opportunity in digital lending was never in doubt, but the Easiloan founders have picked the tougher problem of home loans to address. We are excited to see how quickly they have moved from an idea stage to product and execution in a matter of just months. Their current traction validates our thesis around the gaps that exist in the home loan process. While the founders are focused on going deeper into home loans and solving this through tech, they are also aware of the potential value that lies in acquiring and servicing the customers for a home loan and then nurturing them for all their lending needs for a lifetime. This unique vision coupled with the founders’ understanding of home finance and the real estate industry convinced us to partner with Easiloan,” said Rohini Prakash, CEO, Tomorrow Capital adding that the fund has set aside a corpus of INR 100 crore as a fresh round of investments in new age start-ups, over the next 12 months.
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