Urban Money by Square Yards is spearheading the fintech revolution in real estate

Urban Money got their loan in just 15 minutes. This quick loan approval process turned him around.

Targeting clients like Adarsh, Urban Money had its breakout year in FY 2022 when it helped around 15,444 clients with mortgages, disbursing a staggering INR 5875 Cr worth of loans.

Founded in 2016 as Square Capital, the fintech company was rebranded as Urban Money in 2021. It started as an online-to-offline (O2O) loan aggregator in India to capture captive real estate lending business stemming from Square Yards real estate transactions. . Square yards‘ with over 500 property developers in India and abroad has helped Urban Money find quality businesses at lower cost.

And in just 3 years, it announced its market dominance by becoming the largest organized distributor of secured mortgages in the country. Currently, Urban Money facilitates INR 1,200 Cr+ in loan disbursements every month, with home loans and home loans contributing over 75% of the activity.

“Urban Money aims to create the largest mortgage ecosystem in India. We want to leverage technology, capital and labor to fuel our growth journey and transform the fintech industry by enabling easier access to credit for potential loan applicants,” said Amit Prakash Singh, co-founder and CBO, Urban Money.

Resolving customer issues one loan at a time

For decades applying for a home loan in India has been marred by numerous manual application processes and compliance checks. Here Urban Money comes into play, acting as India’s leading unbiased online loan advisor and aggregator, providing financial institution loan offers and end-to-end support in a single platform. It also has an offline sales team that handles client documentation, sanctions and assists the client through the full loan disbursement cycle. The fintech player has also successfully navigated the multifaceted web of compliance and regulation through strategic partnerships with more than 100 banking and NBFC partners, paving the way for a stable source of funding and eventually an increase in disputes. wider use of its loan portfolio.

Embrace new technologies

At the heart of Urban Money’s lending ecosystem is a suite of technology capabilities driving its fintech powertrain, helping the company disburse paperless mortgages in minutes instead of days or weeks.

Once a customer completes their financial requirements online, an AI-powered eligibility engine determines the borrower’s debt capacity and eligibility, then matches them with the best lender in minutes. seconds. The success rate of this process is over 90%. Links with NSDL and credit bureaus support identity verification, e-KYC and e-Signature while direct integration with the Bank LOS system facilitates instant loan sanctions. This technology-driven efficiency helps Urban Money minimize human intervention and reduce operating costs.

Tapping into the uncharted credit vacuum

Home loan disbursements through online home loan brokers are expected to grow from ~US$9 billion in fiscal year 2021 to ~US$28 billion in fiscal year 2026.

Focusing on this objective, Urban Money, after having cemented its place in large cities, has set its sights on Tier II and III cities where access to cheaper mortgages is still very limited. The fintech company has opened more than 150 offices in various cities across India and is expected to open another 100 by the end of 2023. Additionally, it has bolstered its offline capabilities with a strong channel partner network of 150,000 to take control of the upcoming digital. lending boom in these untapped markets.

Scaling with a clear focus on loan execution

Urban Money is rapidly building its technological prowess to empower the entire mortgage lending cycle for easy market entry and creating the right buzz around its products and services, to realize its ambition to become the largest digital mortgage lending platform. in India.

Till date, Urban Money has disbursed an amazing amount of INR 18,450 Cr+ which is the highest transaction figure by any mortgage lender in India. Facilitating a mortgage transaction is in itself a complex cycle. But Urban Money has cracked the code. He made good use of the absence of a national level mortgage distributor and disrupted this space with his technological capabilities.

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