Huspy Raises Investment Round to Fuel 'Super App' Vision and European Expansion

May 29, 2024
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The Dubai-headquartered Proptech startup Huspy has raised investment to fuel its development of a housing 'super app' and its expansion into Europe. The round was led by Balderton Capital, with further participation from existing investor Fifth Wall.

Financial details of the round were not disclosed but a post on the company's website did indicate that the latest round came at a "considerably higher" valuation than Huspy's Series A in 2022.

Having been founded in Dubai in 2020 by Jad Antoun and Khalid Ashmawy, Huspy grew quickly and claimed to be the largest mortgage provider in the UAE within its first year of operations.

Since starting in mortgages the company has evolved to become a one-stop-shop for buying and selling homes along the lines of Beike in China and Quinto Andar in Brazil offering a marketplace as well as brokerage service.

In 2022 the startup raised a Series A round worth a reported $37 million from investors including Sequoia Capital and Fifth Wall. Later that year Huspy expanded overseas into Spain setting up in Madrid with plans to expand across the country and further into Europe.

The latest investment will help build Huspy's vision of a "category-defining" business according to CEO Jad Antoun:

“Over the last three years, we've 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.”

Below: Huspy COO, Brett Hartley Wilson explains the company's model and vision at PropTech & Portal Watch.

May 29, 2024
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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