Easiloan, an AI-enabled platform for home loans, has raised Rs 8 crore 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.
“While Fintech in India has disrupted every other loan product, home loan continues to remain unchanged. 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,” said Pramod Kathuria, co-founder and CEO, Easiloan.
Easiloan offers an all-digital front-end to banks from sourcing to onboarding to completing credit appraisals for the home loan application.
The Easiloan platform makes selection and application for loans extremely easy and fast for customers, reduces the time taken to process the home loan application and increases conversion for developers and banks.
The start-up has serviced over 750 successful loan sanctions and is working with the top 15 banks and housing finance companies in the market, like HDFC Ltd,
, LIC, Axis Bank, SBI, PNB HF, to name a few.
“Easiloan’s 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,” said Rohini Prakash, CEO, Tomorrow Capital.
The fund has set aside a corpus of Rs 100 crore as a fresh round of investments in new age start-ups, over the next 12 months.