UAE Proptech Huspy Raises $37 Million in Series A21. June 2022
Huspy, the EMEA proptech startup, has announced a $37 million Series A funding round led by Sequoia Capital India to build the future of home buying across the region.
Founders Fund and Fifth Wall made their Middle East investment debut in this round. In addition, Chimera Capital joined returning investors Breyer Capital, VentureFriends, COTU, Venture Souq and BY Venture Partners.
Launched in 2020, Huspy is on a mission to digitally transform and reimagine the home ownership journey. In less than two years, the company has reached $2bn in annualised GMV, growing at 25% MoM to become one of the largest housing platforms in the UAE. Huspy’s Series A round will be used to extensively invest in technology development, double down on growth in the UAE and Spain, and expand across Europe.
Huspy also announced the launch of its full-service property marketplace complementing the company’s position as leaders in home finance. Real estate continues to be an in-demand asset class around the world, growing by 59% YoY in 2021. However, less than 1% of home-buying transactions are completed through digital channels. With this addition, Huspy will solve challenges across every stage of the home buying process.
Jad Antoun, co-founder & CEO – Huspy said,
“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.”
With a total addressable market of $13 billion across the UAE and Spain, Huspy remains committed to creating a world-class experience for home buyers in EMEA. Through trusted partnerships with leading property agents and international financial institutions, Huspy’s customers have a unique opportunity to discover, buy and finance their homes all in one place.
“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.”
GV Ravishankar, MD, Sequoia India
Huspy’s platform features a suite of digital solutions to create unparalleled benefits for buyers, property agents and mortgage brokers. Today, Huspy is home to a world-class team of start-up talent from the likes of Loft, QuintoAndar, Uber, Loggi, SumUp, etc with 30+ nationalities located across Dubai and Madrid, who are building the future of the proptech ecosystem.
Previously, Huspy raised one of the largest seed rounds ever in the MENA region and in 2022 acquired Home Matters, to form the biggest home financing company in the UAE.
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