Easy Home Finance raises $35 Mn from Ranjan Pai’s Claypond Capital, others

Easy Home Finance, a prominent startup in the home financing sector, has raised $35 million in a fresh funding round led by Ranjan Pai’s family office, Claypond Capital, and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund.

Existing investors, including Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, also participated in the round.

This new funding brings Easy Home Finance’s total capital raised to over $100 million in equity and debt. Last week, Entrackr exclusively reported about Easy Home Finance’s upcoming fundraise.

With this new capital infusion, the company aims to expand its assets under management (AUM) to $300 million within the next 24 months. It also plans to extend its operational network to over 150 locations across India to cater to a rising demand for accessible home financing solutions.

Mumbai-based Easy Home Finance focuses on home loan disbursement and related services such as home discovery, renovation, and moving assistance. The company claims to have facilitated more than Rs 500 crore in loans through third-party lenders, helping approximately 5,000 families achieve homeownership.

For the fiscal year ending in March 2024, the company reported a 90% increase in revenue to Rs 63.73 crore from Rs 33.38 crore in the prior fiscal year. The company remained profitable in the last fiscal year, with profits increasing by 10.8% to Rs 5.23 crore.

In September, home finance startup Basic Home Loan raised $10.6 million in a Series B funding round. Recently, Vridhi Home Finance was in the process of raising over $35 million in a round led by Norwest Venture Partners.