News
Square Capital Crosses USD 1bn Of Mortgage Loan Disbursements
Gurugram, April 8, 2019: Strengthening its position in the integrated mortgage marketplace, Square Capital the digital lending arm of India’s largest proptech startup, Square Yards, has recently completed a milestone of facilitating loan disbursement worth USD 1bn (approx. INR 6900 Cr) since its inception in 2016. Investing heavily in strengthening its technology capabilities Square Capital is also in the advance stages to launch a digital mortgage solution with some of the largest private sector banks in India.
Growing at a rate of 56% CAGR in gross transactional value over the last couple of years the fintech start-up is currently facilitating a monthly loan disbursement worth of INR 250 to 300 crore, with Home loans and Loan against property contributing to 78% of the business in terms of total loans disbursement. Currently, Square Capital has tie-ups with more than 95 banks & NBFCs and is facilitating more than 800 loan transactions for them on a monthly basis.
Speaking on the company’s growth trajectory, Mr Tanuj Shori, Co-founder and CEO of Square Yards and Square Capital “This growth is especially remarkable considering the fact that the entire housing finance & NBFC industry witnessed a chaotic period last year leading to liquidity crisis and constraining the opportunities for home buyers. Focusing on maintaining a tech-led asset-light model, while remaining unit economics positive at the transaction level, we further aim towards a double fold growth by the end of FY20”
Square Capital has developed unique online capabilities to provide accurate eligibility of an applicant linked to credit bureau & various banks’ product & credit policies, ability to perform e-KYC of the clients, integration with NSDL & OCR based document reading and direct Integration with Banks’ loan origination systems. It has an equally strong offline sales team that provides loan advisory & end to end fulfillment support in the lending process – managing client documentation, sanctions and assisting the client till the entire lifecycle of loan disbursement.
-
News4 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News3 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances