Dubai-based proptech startup Huspy, which engages across the EMEA region, has achieved $37 million in a Series A funding round led by Sequoia Capital India to build the future of home buying across the EMEA region.
Founders Fund and Fifth Wall made their Middle East investment debut in this round, while Chimera Capital joined returning investors Breyer Capital, VentureFriends, COTU, Venture Souq, and BY Venture Partners.
The co-founder and CEO of Huspy, Jad Antoun, 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.”
Huspy’s growth story
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 $2 billion in annualised gross merchandise value (GMV), growing at 25 percent month-on-month 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.
The managing director of Sequoia India, 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.”
Real estate continues to be an in-demand asset class around the world, growing by 59 percent YoY in 2021.
However, less than 1 percent of home-buying transactions are completed through digital channels. With this addition, Huspy will solve challenges across every stage of the home buying process.
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.
Huspy’s innovative 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 startup 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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