SUMMARY
The alliance aims to use DCB Bank's expertise in affordable housing and Easy Home Finance's tech capabilities to enable quick disbursement of affordable home loans
The co-origination, underwriting and disbursement activities from both the parties working together will enable a seamless process for new home buyers, the companies claimed
Founded in 2018, Easy Home Finance offers ‘instant’ home loans to customers across the country digitally and is backed by Xponentia Capital Partners
Mumbai-based mortgage startup Easy Home Finance Ltd has partnered with DCB Bank for a a co-lending business alliance to provide affordable home loan solutions.
The alliance aims to use DCB Bank’s expertise in affordable housing and Easy Home Finance’s tech capabilities to enable quick disbursement of affordable home loans.
In a statement, the companies said that DCB Bank has established a secure home loan portfolio across varied geographies and has built expertise in credit assessment for a range of loans such as prime home loans, affordable home loans, Loan against Property (LAP), Micro-LAP, loans for home improvement, and construction finance for developers as well.
“The co-origination, underwriting and disbursement activities from both the parties working together will enable a seamless process for new home buyers. Easy’s asset-light model of neo banking mortgage and a greater reach for digital home loans combined with rural and urban connect of DCB Bank will help customers in faster processing of their home loan applications,” the statement added.
The alliance aims to streamline home loan processes, eliminating lengthy procedures and excessive paperwork for customers.
Commenting on the partnership, Narendranath Misha, head-retail & agri loans at DCB Bank, said, “Our expertise in origination and credit assessment will be boosted with the expertise and digital tech of Easy Home Finance. It will enable more customers to experience the range of affordable home loan products of DCB Bank and fulfill the home ownership dreams of prospective customers in underserved geographies.”
Rohit Chokhani, managing director of Easy Home Finance, said, “As a common motive of being more customer-centric and broadening our geographical footprint, we aim to make our customers’ home ownership journey easier while offering them highly interactive digital experiences.”
Founded in 2018 by Rohit Chokhani, Easy Home Finance offers ‘instant’ home loans to customers across the country digitally. It raised $15 Mn in its Series A round led by Xponentia Capital Partners in July 2021.
In December 2022, Easy Home Finance Ltd was reported to be in talks to raise $50 Mn in its Series B funding round.
