While the transaction details remain undisclosed, the partnership aims to lay the foundation for Housing.com's plans to create India's largest digital home loan origination platform.
What does Easiloan do?
Established in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalized, 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.
Capitalizing Housing.com's digital presence
According to the company's statement, the partnership is designed to capitalize on Housing.com's digital presence, while simultaneously broadening the reach of mortgage products to its esteemed network of brokers and developers.
"This symbiotic collaboration is not just a value addition to our seller customers but also augments user engagement on our platform and offers an avenue for enhanced revenue generation," said the company in a statement.
Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com, and Makaan.com, said, "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."
The current landscape of housing credit in India
According to a report by Equifax, Estimates show that there was 16% growth in the overall home loan portfolio from December 2021 to December 2022, reaching a staggering $108.14 billion in disbursed loans in 2022 alone, housing credit in India is set for significant further growth in the coming years.
"We are delighted to partner strategically with Housing.com," said Pramod Kathuria, Founder & CEO of Easiloan.com. "With the Indian fintech industry projected to be worth $150 billion by 2025 and the real estate market projected to reach $1 trillion by 2030, we can collaboratively define new milestones in both areas."