Real estate brokerage firm IndiaHomes will be investing $ 20 million through private equity infusion over the next two years to fund its foray in home loan servicing as well as to expand geographical reach, a top company executive has said. “We are planning to invest around $ 20 million over the next two years which would be largely used for home loan servicing for our customers ,” IndiaHomes Managing Director Samarjit Singh told PTI recently.
The company, has so far invested around $ 14 million for expanding its operations in the country. These funds were raised through a mix of private equity infusion from Helion Venture Capital India and US-based Foundation Capital and through its promoters. The company will be establishing a separate entity ‘India Loans’ to take care of the loan servicing business, he said.
“Today it has become very difficult for buyers to get home loans as they have to undergo a number of procedures. In our endeavour to provide end-to-end solutions, we now want to be a one stop shop where customers can not only get their dream home but also guaranteed loan and all the necessary advices,” the MD said. — Agencies