Housing.com to make strategic investment in home loan online marketplace Easiloan
Real estate portal Housing.com on Thursday said it has decided to make strategic investment in fintech startup Easiloan, which is an online market place to facilitate home loans.
The company did not disclose the amount of investment to be made in Easiloan and the quantum of stake it will pick up post this funding.
In a statement, Housing.com said it has ''decided to make a strategic investment in Easiloan, a fintech startup focusing on digitising the home loan journey.'' Housing.com is owned by REA India, which also controls PropTiger.com and Makaan.com.
REA India is a subsidiary of the global conglomerate, REA Group.
Established in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalised, 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.
This partnership is designed to capitalise on Housing.com's market-leading digital presence, while simultaneously broadening the reach of mortgage products to its esteemed network of brokers and developers.
''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,'' Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com and Makaan.com, said.
With estimates showing a 16 per cent growth in the overall home loan portfolio from December 2021 to December 2022, reaching a staggering USD 108.14 billion in disbursed loans in 2022 alone, housing credit in India is set for further significant growth in the coming years, the statement said.
REA India's revenue has increased 46 per cent to more than Rs 430 crore in the last fiscal year ended in June on a sharp rise in housing demand and increased adoption of technologies.
The company posted nearly Rs 300 crore in revenue in the 2021-22 financial year (July-June).
Housing.com, which was founded in 2012, is a proptech platform for homeowners/home seekers, landlords, developers, and real estate brokers.
In December 2020, Australia's REA Group acquired a controlling stake in Elara Technologies, which earlier owned these three portals, and renamed it as REA India.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)