UAE – Mubasher: Huspy, a property technology firm headquartered in the UAE, has raised a funding round led by Balderton Capital, along with existing investor Fifth Wall as well as other investors.
The fundraising had a considerably higher valuation than its 2022 Series A, which raised $37 million (AED 135.80 million) and was led by Peak XV, according to a press release.
The transaction aligns with Huspy’s objectives to develop a Super App for real estate, reshaping the process of buying properties across MENA and Europe.
Launched in 2020, Huspy has transformed the real estate landscape; becoming the UAE’s largest mortgage provider by facilitating more than 25% of all residential mortgages in Dubai.
Meanwhile, the company offers end-to-end home buying and selling services in the UAE and Spain.
Furthermore, Huspy scaled up its services in real estate, streamlining the entire home-buying process from property search to financing and beyond.
To date, Huspy has processed more than AED 22 billion in home transaction value, helping over 13,500 people achieve their dream of homeownership.
Rana Yared, General Partner of Balderton Capital, said: “Offering a holistic real estate platform that connects all stakeholders, Huspy's product has been thoughtfully designed to tackle major pain points and act as an operational cockpit for brokers and agents.”
“Jad and the team bring exceptional ambition and deep market expertise, and we look forward to this next chapter as Huspy enters the European stage,” Yared added.
Miguel Nigorra, Partner & Head of Europe at Fifth Wall, commented: “We believe Huspy’s industry-leading management team, strong investor base, and end-to-end offering brings a much-needed, differentiated value proposition for the market’s brokers.”
Huspy aims to foster growth plans and become the largest home-buying company in Europe and the Middle East through its Super App for real estate. It will launch its real estate business across Spanish cities ahead of Europe and Middle East rollouts.
Jad Antoun, CEO and Co-Founder of Huspy, stated: “Over the last three years, we have established a strong and defensible business in the UAE and we believe we have the foundations today for a European and Middle Eastern expansion. We are incredibly happy to partner with Balderton Capital, to focus on a European rollout.”
“The goal for Huspy remains the same as day zero, to build a category-defining business in this space in Europe and the Middle East and we believe we’re in a prime position to achieve that.”
