Sequoia Capital India led the $37 million Series A round of funding for Huspy. The startup is a EMEA proptech startup. It aims to improve the quality of home-buying across the region. Fifth Wall and Founders Fund made their Middle East investments in this round. Chimera Capital also joined VentureFriends and VentureSouq returning investors.
Huspy was launched in 2020. It is on a mission digitally to reimagine homeownership. The company’s annualized GMV has reached $2bn. It has also grown at 25% MoM to become the biggest housing platform in the UAE in just two years. 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 a leader in home finance. Real estate is still a highly-demanded asset class worldwide, with a 59% YoY growth in 2021. However, digital channels account for less than 1 percent of home-buying transactions. Huspy can help you solve all your home-buying problems.
Jad Antoun, co-founder & CEO of Huspy said, “We’ve laid the foundation for a very defensible business that’s redefining home ownership in EMEA. We want to make Huspy a leading company in the category and change how people finance and buy their homes. Huspy has grown rapidly to be one of the biggest property platforms, having facilitated billions in volume in just two years. 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 continues to provide a first-class experience for homebuyers in EMEA, with a total market size of $13Bn across Spain and the UAE. 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. The company has quickly proven its value proposition to the UAE real estate ecosystem, and has been the market leader for mortgage broking in the UAE. It has also achieved strong 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 innovative platform features a suite of digital solutions to create unparalleled benefits for buyers, property agents and mortgage brokers. Huspy houses a global team of talent from start-ups such as Loft, QuintoAndar Uber, Loggi and SumUp. These people are creating the future proptech ecosystem.
Huspy had raised one the largest seed rounds in the MENA region. In 2022, Huspy acquired Home Matters to make the UAE’s biggest home finance company.