New Delhi, Jan. 29 -- Easy Home Finance Ltd, which is backed by mid-market private equity firm Xponentia Capital, has raised $30 million (around Rs 276 crore) in a Series C round led by Bahrain-based alternative investment firm Investcorp.
With this round, the total equity capital raised by the mortgage lender has surpassed $80 million, according to a press note.
The Bahraini investment firm pumped funds into the home finance company through two funds-Investcorp Growth Equity Fund and Investcorp Growth Opportunity Fund.
Ranjan Pai's Claypond Capital and SMBC Asia Rising Fund, both existing investors, also participated in the latest round. In 2024, Easy Home had raised $35 million in a Series B round led by Claypond, alongside the SMBC fund.
Easy Home Finance said that the successive rounds of investment by the existing investors will enable the company to accelerate distribution, expand its market presence, and deepen its technology capabilities across the home-loan lifecycle. Specifically, the newly raised capital will be deployed to accelerate expansion into new markets across India and to further invest in product development and technology.
"This equity raise is a statement of intent. We are building for scale-pan-India expansion, faster distribution, and deeper investment across product and talent," Rohit Chokhani, managing director at Easy Home Finance, said in the press note.
"The participation of Investcorp, alongside continued support from Claypond, and SMBC, our long-term shareholders, strengthens our ability to move faster and build bigger," he added.
Incorporated in 2017, Easy Home Finance largely caters to the low and middle income groups. The company's portfolio comprises loans for purchase of home, construction of home, repair, renovation, loan against property and top-up loans. The loan book stood at Rs 671 crore as on December 31.
Published by HT Digital Content Services with permission from VC Circle.