Mortgage Marketplace: Square Capital helps disburse $1 billion of home loans
The fintech startup is set to launch a digital mortgage solution with some private sector banks in India.
- Tanuj Shori, co-founder and CEO, Square Yards and Square Capital Growing at a rate of 56% CAGR in gross transactional value over the last couple of years, it is currently facilitating monthly loan disbursements worth Rs 250-300 crore, with home loans and loan against property contributing to 78% of the business.
- Square Capital has developed online capabilities to provide accurate eligibility of an applicant linked to credit bureau and various banks' product and credit policies, ability to perform e-KYC of clients, integration with NSDL and OCR-based document reading and direct integration with banks' loan origination systems.
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