Easy Home Finance raises Rs 210 Cr led by Claypond Capital

Mumbai-based home loans platform Easy Home Finance has raised Rs 210.35 crore in a round led by Ranjan Pai’s Claypond Capital and SMBC Asia. This is the company’s first capital infusion in over two years; it last raised nearly $8 million in a Series A round in September 2023.

Easy Home Finance’s board passed a special resolution to issue 12,730,960 fully paid equity shares at an issue price of Rs 165.23 each, raising Rs 210.35 crore, according to regulatory filings.

Claypond Capital led the funding round for Easy Home Finance with an investment of Rs 150.5 crore. SMBC Asia Rising Fund followed, investing Rs 48.75 crore, while SVS Trust (IV) and Aart Corporate Advisors contributed Rs 5 crore each.

Claypond Capital, a family office of Manipal’s group chairman Ranjan Pai, has investments in startups, including HealthifyMe, Aakash Institute, Bluestone, PharmEasy, and Purplle among others.

Easy Home Finance focuses on home loan disbursement and related services, including home discovery, renovation, and moving assistance. The firm claims to have facilitated over Rs 500 crore in loans through third-party lenders, supporting homeownership for 5,000 families

Its previous funding details were not clear, though Tracxn data indicates that Easy Home Finance has raised over $26 million from Xponentia Capital, Pegasus Airlines, and Prerak Mehta. 

According to Entrackr analysis, Easy Home Finance has been valued  approximately at around Rs 1,010.36 crore (post-money).

Following this investment, Claypond Capital holds a 14.90% stake, while SMBC Asia and SVS Trust (IV) hold 4.80% and 1.02%, respectively.

Easy Home Finance’s revenue from operations surged over 90% to Rs 63.73 crore in FY24 from Rs 33.38 crore in the previous fiscal year. While the company remained profitable, its profit increased 10.8% to Rs 5.23 crore in the fiscal year ending March 2024.

By Entrackr : Latest Posts

Source: Entrackr : Latest Posts