· The Partnership will provide affordable home loans through the use of digital technology
· The Partnership will target paperless processing of home loans through ICICI HFC’s expertise in the affordable housing and Easy’s (Easy Home Finance Ltd ) technology
New Delhi, June 04, 2022: Easy Home Finance Ltd (EASY), India’s leading mortgage tech company, along with ICICI Home Finance Company Limited (ICICI HFC), one of the India’s leading affordable housing finance company have entered into a co-lending partnership to disburse affordable home loans in the country. This partnership will leverage ICICI HFC‘s expertise in affordable housing segment and EASY’s tech capabilities to enable quick disbursement of affordable home loans and make the dream of owning a home come true, for millions of Indians.
EASY is a pioneer in the mortgage tech space in the Indian Subcontinent. On the other hand, as one of the leading affordable housing finance company, ICICI HFC has been instrumental in providing a range of Regular Home Loan, Affordable Home Loan, LAP, Micro LAP, Home Improvement Loan, and Construction Finance to developers. The co-origination, underwriting and disbursement activities from both the parties 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 – urban connect of ICICI HFC will help customers get home loan processed faster.
Mr. Rohit Chokhani, Managing Director, Easy Home Finance Limited, said, “Our perennial alliance with ICICI Home Finance is a significant step towards providing affordable home loans and reaching added Indian households. In a bid to offer paperwork-efficient, cost-effective, and hassle-free home loans in the market, we are embarking on this journey. As a common motive of being more customer-centric and broadening our geographical footprint, we aim at making our customers’ home ownership journey easier while offering them highly-interactive digital experiences. Furthermore, customers will now be able to enjoy the best of both worlds; the trust and experience of ICICI HFC and the tech-focused offerings of Easy.”
Speaking on the partnership, Mr. Anirudh Kamani, Managing Director and CEO, ICICI Home Finance Company Limited, said, “We are excited to partner with Easy Home Finance to take our vision to make the dream of owning a home come true for millions of Indians. This partnership will help us provide affordable home loans faster and a seamless home buying experience for our customers. We look forward to a long term relationship with Easy Home Finance and work towards our common goal to support Housing for All”.
The partnership will benefit customers in numerous ways such as eradicating the hassle of long home loan procedures and paperwork.
Easy Home Finance Limited earlier had announced a MaaS (Mortage as a Service) partnership with ESAF Bank, and now with ICICI Home Finance, it is the next step to expand and grow as India’s leading Mortgage Tech Company. All this is only possible with EASY’s proprietary homeownership technology platform, ‘Fox’, which will be used throughout all their partnerships. The company had earlier raised its Series-A round from domestic private equity Xponentia Capital, as well as Harbourfront Japan, Finsight VC, RaSa Future Fund, Navida Capital Sweden & Integra Software.
Corporate Comm India (CCI Newswire)
