MUMBAI: Easy, a mortgage-tech startup, has raised $35 million in its series B funding round led by Claypond Capital and Sumitomo Mitsui Banking Corporation's Asia rising fund apart from the existing investors including Xponentia Capital, Finsight Ventures, Harbourfront Capital and Pegasus India's evolving opportunities fund.
With this funding, the company has raised over $100 million in equity and debt financing, from the last series A round being led by domestic private equity fund Xponentia Capital Partners, it said in a statement Wednesday.
Easy is a digital-first mortgage company providing accessible home loans to middle-income consumers. With the fresh capital, Easy aims to expand its assets under management to $300 million within the next 24 months and plans to grow its network to over 150 locations.
It is supported by a consortium of over 20 banks and financial institutions. The domestic home loans market represents only 11 percent of GDP today.
"This $35 million funding is a testament to our commitment to reshaping the mortgage landscape and will propel our efforts to make home financing truly digital, efficient, and accessible," said Rohit Chokhani, MD, Easy Home Finance.