Easy Home Finance

Easy Home Finance is an Indian startup founded in 2017. It offers mortgage loans to customers in which banks are not interested, using mobile devices. The project created its own real estate analysis technology in combination with credit technology to provide operational solutions for applications.

History

2021: Raising $15 million

On July 30, 2021, it became known that the mortgage technology startup Easy from Mumbai raised $15 million as part of Series A. The funding round was headed by the Xponentia Capital Partners fund. Investors such as Harbourfront Capital, Finsight Ventures, RaSa Future Fund and others also took part in the deal.

The mortgage technology startup has developed its own real estate analysis technology in combination with credit technology to achieve faster results.

Finam Founder Fund Viktor Remshi invested in mobile mortgage issuance service

Currently, Easy manages assets worth $15 million and has raised more than $40 million in debt and equity financing. The company plans to use the new capital to achieve the volume of assets under management of $150 million over the next 24 months. The company also wants to expand its network to 100 points across the country.

According to representatives of the startup, despite the large size of the mortgage market in India, it is only 10% of GDP, and this area has not yet been digitized. Currently, making, processing and underwriting a home loan in a large bank still requires a heap of paperwork and multiple physical visits to the department and it is here that Easy comes to the rescue. In the Indian market, firms such as Steadview, Sequoia Capital, LGT Lightstone and Blackstone have already invested in companies represented in the real estate sector.

Finsight Ventures was created by the founder FinamaViktor Remsha and his partner Alexei Garyunov. Commenting on the investment, Alexey Garyunov, general partner of Finsight Ventures, said:

We see unprecedented demand for affordable housing fueled by India's growing urbanization and government initiatives such as PMAY. At the same time, the segment of low-income groups has always been considered the most difficult for financial institutions. It is here that technologies come to the rescue to increase operational efficiency in this segment and improve the quality of customer service. We believe that with the help of technology, Easy can become an important element in the capital chain aimed at solving the housing problem in India.[1]

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