Huspy, the UAE-based advanced technology startup, has announced the success of a $37 million Series A funding round, led by Sequoia Capital India.
With the investment round, the startup aims to complete its endeavors of building the future of the home buying market across the region. Founders Fund and Fifth Wall participated in the round in their first investment activity in the Middle East. Chimera Capital has also joined a group of returning investors, such as Breyer Capital, VentureFriends, COTU, Venture Souq and BY Venture Partners.
Huspy launched in 2020 and has been on a mission ever since to reinvent and digitally revolutionize the experience of home ownership. Buyers, real estate agents, and mortgage brokers can all profit greatly from Huspy’s cutting-edge platform, which includes a variety of digital solutions. The startup wishes to offer home owners in EMEA a world-class experience. Huspy’s customers have the chance of finding, buying, and financing their houses all in one place due to reliable partnerships with top real estate brokers and international financial institutions.
They also announced the launch of a full-service digital real estate marketplace, strengthening the company’s position among the pioneers in the field of real estate finance. With a YoY growth of 59% in 2021, real estate will continue to be a highly sought-after asset class everywhere. However, less than 1% of property purchases are finalized by digital means. It will enable the real estate market The new Huspy company has solved the challenges of all stages of the home buying process.
With this feature, Huspy will resolve issues at all stages in the home-buying process. Co-Founder and CEO of Huspy, Jad Antoun, stated: “We’ve laid the foundation for a very defensible business that’s redefining home ownership in EMEA. Our aspiration is to continue building Huspy into a category-defining company and set a new bar for the way people buy and finance their houses.
In just under two years, Huspy has grown to become one of the largest property platforms, facilitating billions of dollars in volume. Today, we’re humbled to partner with global and regional investors and we look forward to working together to reshape the world’s largest asset class.”
Huspy’s Series A round of funding will be utilized to significantly invest in technological advancement, accelerate expansion in the UAE and Spain, and broaden operations throughout Europe.
Sequoia Capital’s Managing Director, GV Ravishankar, said: “We are impressed with Jad and Huspy’s mission to transform the home buying and financing experience in the region. In a short span of time, the company has demonstrated its strong value proposition for the real estate ecosystem and has become the market leader in mortgage broking in the UAE with healthy unit economics. And, Huspy’s ethos to build for the long term with a deep focus on having the best team in the region resonates deeply with us.”
Huspy previously conducted one of the largest ever seed funding rounds in the MENA region, and recently acquired Home Matters to form the largest real estate financing company in the UAE.