Dubai-based startup Huspy secures new investment from Balderton to expand its comprehensive real estate app, catering to the Middle East and European markets.
In a significant move for the real estate tech industry, Dubai-based proptech startup Huspy has raised $59 million in its Series B funding round. The investment was led by Balderton Capital, with participation from other investors such as Peak XV and Founders Fund.
Huspy, which started as an online mortgage platform enabling users in the United Arab Emirates to secure home loans, has now expanded its offerings to make the process of finding a home easier. The company now dubs itself as a superapp for real estate, streamlining the entire home buying process from property search to financing and beyond.
This latest funding round comes after Huspy's successful Series A round in 2022, led by Balderton Capital, which raised $37 million. This Series B round is reported to be at a 'considerably higher' valuation than the Series A round.
Since its inception, Huspy has processed over AED 22 billion (USD 6 billion) in home transaction value and has helped more than 13,500 people achieve their dream of homeownership. The company has grown to become the largest mortgage provider in the United Arab Emirates, facilitating over 25 percent of the residential mortgages in Dubai.
In addition to its operations in the United Arab Emirates, Huspy also offers end-to-end home buying and selling services in Spain. The company's mission is to simplify the complex process of buying and owning a home, making it accessible to a wider audience.
While there is no explicit mention of Fifth Wall leading or participating in this round in the current data, the world's largest VC firm focused on real estate tech did join the round. This expansion of Huspy's investor base underscores the growing recognition of the company's potential in the real estate tech industry.
As Huspy continues to grow and evolve, it is poised to make a significant impact on the real estate market, both in the United Arab Emirates and beyond. With its user-friendly platform and comprehensive services, Huspy is set to revolutionise the way people buy and own homes.
References:
- TechCrunch
- Arabian Business
- Gulf Business
- Wamda
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