Housing.com, India's preeminent digital real estate platform, has decided to make a strategic investment in EASILOAN, a fintech start-up focusing on digitizing the home loan journey. Although the specific investment sum remains undisclosed, this partnership aims to lay the foundation for Housing.com's plans to create India's largest digital home loan origination platform.
Owned by REA India, which also controls PropTiger.com and Makaan.com, Housing.com has emerged as the leader in the Indian digital real estate market. REA India is a subsidiary of the global conglomerate, REA Group Ltd. (ASX: REA).
Established in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalized, end-to-end home loan solutions through collaborations with over 20 banks across India. The platform employs customer profile-based matchmaking, enabling users to compare, select, and process home loans seamlessly. Easiloan is strategically positioned for exponential customer acquisition through partnerships with brokers, developers, and other digital channels.
This partnership is designed to capitalize on Housing.com's market-leading digital presence, while simultaneously broadening the reach of mortgage products to its esteemed network of brokers and developers. "This symbiotic collaboration is not just a value addition to our seller customers but also augments user engagement on our platform and offers an avenue for enhanced revenue generation," said the company in a statement.
Mr. Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com, and Makaan.com, said, "Housing.com is committed to offering its customers and consumers an exhaustive suite of real estate services, and this partnership with Easiloan marks a seminal step in that direction. Mortgages are an organic expansion within the digital real estate sphere, driven by the large customer base that we have cultivated on our platform."
Mr. Agarwala further added, "Technological advancement and the Indian government's commitment to digitalization in the lending sector will profoundly transform the home loans landscape in the forthcoming years, and we are committed to pioneering this revolution."
With estimates showing a 16% growth in the overall home loan portfolio from December 2021 to December 2022, reaching a staggering $108.14 billion in disbursed loans in 2022 alone, housing credit in India is set for significant further growth in the coming years.
"We are delighted to partner strategically with Housing.com," remarked Mr. Pramod Kathuria, Founder & CEO of Easiloan.com. "With the Indian fintech industry projected to be worth $150 billion by 2025 and the real estate market projected to reach $1 trillion by 2030, we can collaboratively define new milestones in both areas."
Earlier, Easiloan has raised seed funding from Tomorrow Capital in Sept’21 and demonstrated strong traction in terms of customer acquisition, loan disbursement and expansion in Mumbai, Pune, and Bengaluru.
Ms. Rohini Prakash, CEO, Tomorrow Capital added, “We are proud to have backed Pramod in his journey to build Easiloan, and truly believe that it is a gamechanger for the mortgage space in India. The Easiloan brand uses a tech-first approach to deliver a superior home loan experience, from discovery to disbursement, for its customers. It continues to provide unparalleled benefits to multiple stakeholders including real estate developers and agents. We are glad to welcome Housing.com onboard in scaling the Easiloan platform further.”
NOTE: Sources for industry numbers quoted in the release.
1. Overall portfolio outstanding of Homeloans grew by 16% from Dec'21 to Dec'22 - This is from Equifax report, Page -13 (Link)
2. Estimates shows a total of 3.4Mn housing loans worth $108.14 billion were disbursed by banks, HFCs and others in India in CY 2022. (Exchange rate used here 1 US$ = INR 83.22)"- Source Equifax report, Page-16 (Link)
3. Indian Fintech industry, poised to reach $150 billion by 2025- Statement by Ministry of State of Finance, (Link)
About Easiloan ( www.Easiloan.com )
Easiloan is India’s digital home loan marketplace. This is an end-to-end digital platform for real estate developers, brokers, home buyers and lenders, bringing the demand and supply together. Easiloan works as the front-end to Banks with a re-imagined approach for sourcing and processing of home-loans.
About Tomorrow Capital
Tomorrow Capital is a $100 million operating investment fund investing in multiple sectors in the consumer space. Tomorrow Capital focuses on empowering stellar early-stage entrepreneurs with strong and differentiated models to build transformative and sustainable businesses around consumption themes of the future. With a deep understanding of business fundamentals, Tomorrow Capital aims to create iconic consumer brands out of its investee companies in India.
Established in 2012 and later acquired by REA India in 2017, Housing.com has emerged as India's foremost comprehensive prop-tech platform for homeowners, home seekers, landlords, developers, and real estate brokers. With an extensive range of listings including new homes, resale homes, rentals, plots, commercial spaces, and co-living spaces throughout India, Housing.com offers unparalleled services in the real estate industry. Powered by robust research, data, and insights, our platform delivers a comprehensive suite of real estate solutions, encompassing advertising, marketing, sales solutions for developers and brokers, personalized search, virtual viewing, AR&VR content, home loans, a variety of DIY services for homeowners and seekers, as well as post-transaction services for consumers.
As a subsidiary of REA Group Ltd. (ASX: REA), REA India (formerly known as Elara Technologies Pte. Ltd.) stands as the preeminent real estate technology platform in the country, overseeing Housing.com, Makaan.com, and PropTiger.com. With 24 offices strategically located across India, including our corporate headquarters in Gurugram, Haryana, REA India maintains a national presence, delivering exceptional real estate services to clients.
To explore further information about our company and the wide range of services we offer, visit our website at http://www.housing.com/.