Urban Money Aims To Facilitate Rs 30,000 Crore Home Loan Disbursement In FY24

Facilitating a mortgage transaction involves complex valuation, documentation, and regulations, requiring expertise in real estate.
Urban Money Aims To Facilitate Rs 30,000 Crore Home Loan Disbursement In FY24

Urban Money, fintech arm of Square Yards, on Monday said it expects to facilitate home loan disbursement of Rs 30,000 crore during the current financial year.

Urban Money, currently operating from 250 cities, facilitated the disbursal of about Rs 15,370 crore in the last fiscal year through various channels, including banks, housing finance companies, and non-banking financial companies (NBFCs).

Facilitating a home loan mortgage transaction involves navigating complex valuation decisions, extensive documentation, and stringent regulations, besides having deep expertise in the real estate value chain, the company said in a statement.

"We identified this fundamental gap in 2019 and cracked this space in last four years emerging as the largest mortgage marketplace in the country," Square Yards founder CEO Tanuj Shori said.

Urban Money offers a streamlined home loan experience through its tech platform, digitizing the entire mortgage process, including AI-based credit assessments and e-signatures.

Urban Money is also expanding its presence in Tier II and III cities through the Urban Money Business Partner Program, strengthening its 200,000 offline channel partner network, it said.

The Urban Money partner app, with 15,000 sign-ups till date, offers channel partners digital access to exclusive offers, streamlined bank logins, real-time credit checks, and improved visibility into loan details, it said.

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