Mortgage tech platform Easy has announced that it has secured $15 million in Series-A round led by Xponentia Capital. VC funds Harbourfront Capital, RaSa Future Fund, Finsight VC, Navida Capital AB, Integra Software and Helena Wasserman Eriksson also participated in the funding round.
Speaking on the announcement, Rohit Chokhani, Founder and Director, Easy, commented, “A consumer has to jump multiple hoops to get a home loan. In order to offer mortgage on mobile solution, we must first understand the income, assets, credit & property. The traditional way would be filling out multiple forms and answering questions to figure out these variables, but we use data to understand our customer better. We have developed an in-house property intelligence tech combined with credit tech and are able to deliver seamless consumer experience within minutes and not days. We have seen our fastest client from origination to moving-in the property in two days.”
PR Srinivasan, Managing Partner, Xponentia Capital Partners, added, “customers of Easy can focus on things that matter and not worry about drudgery and paperwork. Buying a house is what it should be – a delightful experience. We are excited to partner with Rohit and the entire team in their journey to digitize the mortgage industry.”
Alexey Garyunov, general partner at Finsight Ventures, continued, “We see the unprecedented demand for affordable housing fuelled by India’s growing urbanisation and government initiatives like PMAY. At the same time, the lower-income group segment was always considered to be the hardest for financial institutions. This is where technology comes to bring operating efficiency in the segment and superior customer experience. We believe that, with the help of tech, Easy can become an essential element in the capital chain aimed to solve the housing challenge in India.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.