Mumbai-based mortgage startup Easy Home Finance Ltd has announced a strategic partnership with DCB Bank, marking the initiation of a co-lending business alliance dedicated to delivering affordable home loan solutions. This collaboration seeks to leverage DCB Bank’s extensive experience in affordable housing and Easy Home Finance’s technological capabilities to facilitate swift disbursement of affordable home loans.
In a joint statement, the companies highlighted DCB Bank’s secure home loan portfolio spanning diverse geographies and its proficiency in credit assessment across various loan categories, including prime home loans, affordable home loans, Loan against Property (LAP), Micro-LAP, loans for home improvement, and construction finance for developers.
The collaboration’s core activities, including co-origination, underwriting, and disbursement, aim to establish a seamless process for new homebuyers. The asset-light model of neo banking mortgage by Easy Home Finance, combined with DCB Bank’s extensive rural and urban reach, is expected to expedite the processing of home loan applications, offering a hassle-free experience for customers.
Narendranath Misha, Head-Retail & Agri Loans at DCB Bank, expressed enthusiasm about the partnership, stating, “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, emphasized the shared commitment to customer-centricity and geographical expansion. He stated, “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 specializes in providing ‘instant’ home loans to customers nationwide through digital channels. The startup raised $15 Mn in its Series A funding round led by Xponentia Capital Partners in July 2021. Recent reports indicate that Easy Home Finance Ltd is in discussions to raise $50 Mn in its Series B funding round, highlighting its continued growth and strategic positioning in the mortgage market.
