Houm Eyes LatAm Expansion With Latest Investment

A Chilean proptech startup has closed a US$ 35 million Series A investment round, with the goal of expanding its operations to 15 new cities across Latin America.

Houm, which was founded in 2018, raised US$ 6 million of Seed Investment earlier this year. This latest investment is co-led by Silicon Valley venture capital Goodwater Capital and Fifth Wall

Houm reported achieving growth of more than 11x during the past year. It has more than 350 employees in addition to its more than 300 ‘houmers’ (young people who visit and inspect properties to confirm the information provided by owners.

Benjamín Labra, CEO and Co-Founder of Houm, said: “We are deeply happy for this milestone, and for the entry of new and important partners to the company. It is gratifying to see how the best funds in the world see potential in Houm, and this is only just beginning, great things are coming.”

The company’s digital platform provides a comprehensive solution that helps to lease and sell properties, and stands out for the speed of the process.

The company’s ‘Houmers’ takes professional photos and videos at no cost. They also inspect the house or apartment which gives credibility and security to the marketplace platform with verified properties. The properties are then published in less than 24 hours. Houm then takes care of viewings the property with in person or virtual tours.

Houm uses an AI algorithm called ReV to create the optimal rental or sales price of any property. It is based on similar transactions and properties in the area.

Labra said 95% of its properties are rented within 30 days or less, and the freelance force, the ‘houmers’, allow the company to show properties at an average of six minutes every day.

“We are happy to be able to fulfill our purpose and continue expanding our operation in the region, providing a safe and reliable service with multiple facilities and benefits, in addition to donating part of our income to help families in vulnerable situations,” Labra concluded.