Mumbai-based home financing company Easy Home Finance is securing Rs 210.35 crore in fresh capital in a round led by Ranjan Pai’s Claypond Capital, with additional support from SMBC Asia. This marks Easy Home Finance’s first fundraising event since its Series A round in September 2023, where it raised approximately $8 million.
In a recently passed resolution, Easy Home Finance’s board approved the issuance of 12,730,960 equity shares at Rs 165.23 each, amounting to Rs 210.35 crore, as per regulatory disclosures.
Claypond Capital is contributing Rs 150.5 crore as the lead investor, followed by SMBC Asia Rising Fund’s Rs 48.75 crore. Additional contributions of Rs 5 crore each are being made by SVS Trust (IV) and Aart Corporate Advisors.
Claypond Capital, headed by Ranjan Pai from the Manipal group, is known for its investments in notable startups such as HealthifyMe, Aakash Institute, Bluestone, PharmEasy, and Purplle, among others.
Specializing in home loan disbursement and services that support property discovery, renovation, and relocation, Easy Home Finance has facilitated loans worth over Rs 500 crore for 5,000 families through third-party partnerships.
Based on an internal analysis, Easy Home Finance’s post-money valuation is expected to reach approximately Rs 1,010.36 crore.
Once the transaction is finalized, Claypond Capital will hold a 14.90% stake, with SMBC Asia and SVS Trust (IV) securing stakes of 4.80% and 1.02%, respectively.
In FY24, Easy Home Finance’s revenue from operations increased over 90%, reaching Rs 63.73 crore compared to Rs 33.38 crore in the previous fiscal year. Profits rose by 10.8%, reaching Rs 5.23 crore for the fiscal year ending March 2024.