Housing.com Partners with FinBox to Launch a Personal-Loan Service

India-based real estate marketplace Housing.com has launched a personal-loan service via a new partnership with digital credit and risk intelligence specialist Finbox.

As part of the new partnership, Housing.com users will be able to procure loans up to INR1 million ($12,000) to ease the financial burdens of costs including raising a security deposit for a new tenancy and renovation costs.

Housing.com has already integrated Finbox into its rental and allied services app and website Housing Edge, with applicants able to receive funds as little as 24 hours after their application.

FinBox’s ability to compare offers across multiple lenders will ensure Housing.com will be able to match renters and homebuyers with suitable lenders, while the risk intelligence suite of the business will assess the creditworthiness and risk profile of customers fairly and accurately.

Dhruv Agarwala, Group CEO of Housing.com, said:

"Gone are the days of tedious loan applications and mountains of paperwork.

"Housing.com and FinBox have streamlined the process, allowing applicants to complete the entire loan application in just about three minutes. Once approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours.”

Rajat Deshpande, CEO at FinBox, said:

"As a technology provider, we are committed to empowering non-financial platforms to offer seamless financial services that are convenient for end customers. We achieve this by creating seamless journeys through advanced technology and a vast network of third-party integrations."

Finbox is a digital credit infrastructure and risk intelligence service based in India. The firm was founded in 2015 with the mission of democratizing financial services for businesses looking to launch and scale their own credit products.

Meanwhile, Housing.com has had a busy 2023 with two major moves in the first half of the year: a 'rent now, pay later' partnership with finance startup Niro in March and the launch of a commercial real estate listing service in April.

As of March 2023, REA Group-owned Housing.com is India's most visited real estate portal website, beating the likes of 99acres, Magicbricks and Squareyards: