More Funding Rounds Closed as Wynwood House and Homesfy Plan Major Expansions in LATAM and India Respectively

December 2, 2022
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Hot after news that UK-based Giraffe360 and Finnish iBuyer Rive each completed multi-million funding rounds, two more companies have announced successful investments of their own. Here's the breakdown:

 

Peruvian startup Wynwood House raises $7m

Wynwood House, an apartment rental startup based in Peru, has raised $7m round of equity and debt in a funding round led by Chilean firm FEN Ventures and Salvadorean firm Innogen Venture Capital.

Wynwood House offers a hybrid between “the comfort of traveling to a friend’s house and a 5-star hotel”, with 850 leased units on its books in Peru, Colombia, Mexico and Panama. The company has surpassed 10,000 monthly users after rapid growth in the last twelve months.

The startup will use the cash injection to grow its stock to 2500 units to include Santiago in Chile and Madrid in Spain by the end of 2023, with a proposed expansion to Miami in 2024.

Wynwood House differentiates itself by assuring a minimum standard of living for each of its units—including location, a 24/7 digital concierge service, interior design that supports local artists, and a hybrid living experience that combines the best parts of living at home and a hotel.

The company also has a B2B offering, Casa Wynwood, which is a mix between a boutique hotel and a clubhouse—a service Wynwood House says represents more than 20% of its bookings for customers considering longer stays.

Ingacio Masías, CEO and co-founder at Wynwood House, said:

"We help real estate investors monetize their properties. We take care of everything: from the design of the apartments, the furnishing, all the way to the cleaning and the costumer experience. The owner of the apartment can get a return on average between 20 and 30% higher than what he would get in the traditional rental market, without having to take care of the operation."

 

Indian startup Homesfy secures $1.1m in funding ahead of IPO

Mumbai-based brokerage Homesfy has raised $1.1m in funding from a number of high-profile investors including Girish Gulati—a veteran investor in the public equity markets—Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria and Amit Bagaria.

The company will use its newfound cash to fuel ongoing operational requirements and organic growth ahead of a proposed IPO on NSE Emerge, India's national stock exchange.

Homesfy partners with reputed builders in India to facilitate real estate sales. The company recently initiated the acquisition process for another Mumbai-based brokerage firm, EQServ, to strengthen its residential property partnerships with category A+ developers across Mumbai.

Anish Kukreja, founder and CEO at Homesfy.in (and sister company MyMagnet.io), said:

"Buying a home for personal use or as an investment continues to be a popular choice in the country. Due to the pandemic, even the reluctant youth has realized the advantages of investing in hard assets.

"This, coupled with the regulatory framework coming into the real estate sector through RERA, has paved the way for a growing interest in real estate transactions. We, at Homesfy, started our journey with the aim to simplify the home-buying process. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers."

Homesfy was founded in 2013 and currently operates in four cities in India including Pune, Bangalore and Delhi NCR, with an estimated 400 employees.

December 2, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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