Huspy, a property technology company based in the UAE with operations in Dubai, Abu Dhabi, and Madrid, has announced a new funding round led by Balderton Capital. Existing investor Fifth Wall also participated, among others.
This latest funding round values the company significantly higher than its 2022 Series A, which raised $37 million and was led by Peak XV (formerly Sequoia Capital India & SEA).
The strategic investment marks a significant milestone in Huspy’s efforts to create a Super App for real estate, aiming to transform property buying in MENA and Europe.
Since its launch in 2020, Huspy has rapidly become the UAE’s largest mortgage provider, facilitating over 25% of residential mortgages in Dubai within its first year. The company now offers comprehensive home buying and selling services in the UAE and Spain.
Huspy has also been instrumental in attracting top talent to the UAE, bringing in over 200 professionals from more than 40 countries, thereby enhancing the regional talent pool.
The company has garnered investments from leading venture capital firms such as Peak XV, Founders Fund, Balderton Capital, Fifth Wall, Breyer Capital, VentureFriends, B&Y Venture Partners, COTU Ventures, and VentureSouq.
Building on its success, Huspy has expanded its offerings to streamline the entire home buying process, from property search to financing. CEO and Co-founder Jad Antoun stated, “We have established a strong and defensible business in the UAE and believe we have the foundations for expansion in Europe and the Middle East. Partnering with Balderton Capital will focus on a European rollout.”
Huspy has processed over AED 22 billion in home transaction value, assisting more than 13,500 people in achieving homeownership.
Balderton Capital’s involvement underscores Huspy’s potential in the European market. Rana Yared, General Partner at Balderton Capital, remarked, “We are excited to help scale Huspy in Europe. Huspy’s platform is designed to tackle major pain points and serve as an operational hub for brokers and agents.”
Fifth Wall, the largest asset manager focused on improving and decarbonizing the built world, along with other investors, reaffirmed their confidence in Huspy by increasing their investments. Miguel Nigorra, Partner & Head of Europe at Fifth Wall, noted, “We continue to see significant opportunities to disrupt the real estate market in EMEA. Huspy’s management team, strong investor base, and end-to-end offering provide a unique value proposition for brokers.”
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By Proptechbuzz
By Ravi Kumar