Mexican proptech startup, Homie, which is streamlining the entire home renting process for Mexican renters, is ending the decade on a high note with the closing of a "significant financing round".
Sam Zell from Equity International led this finance dance. Joining him were Angel Ventures Pacific Alliance II, as well as a few unnamed investors.
Thanks to these funds, Homie is looking forward to expanding its platform’s services, growing its team, as well as playing the PR game of increasing ties with developers and real estate brokers.
The startup had previously received an investment of US$1.3 million in October 2018 in a round led by the Pacific Alliance’s Fund which is under the management of Angel Ventures.
I got you (an apartment), Homie
In Mexico, renting a home, much like buying one, is a daunting task.
Especially when it’s for the first time. Especially when the house-hunter has difficulties providing banking or financial solvency. In these instances, the norm is that the applicant must provide a legal guarantee commonly referred to as an “aval” in Mexico. An aval is basically a person or institution who will be held responsible for ensuring payment if the leaser fails to do so.
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