UAE-based PropTech startup Huspy has raised $37 million in a Series A funding round led by venture capital firm Sequoia Capital India to accelerate its expansion across Europe, the Middle East, and Africa (EMEA) region.
California-headquartered venture capital firms Founders Fund and Fifth Wall also made their Middle East investment debut in the round, Huspy said in a statement.
Further, Chimera Capital joined returning investors Breyer Capital, VentureFriends, COTU, Venture Souq, and BY Venture Partners in the funding round.
“We’ve laid the foundation for a very defensible business that’s redefining home ownership in EMEA. Our aspiration is to continue building Huspy into a category-defining company and set a new bar for the way people buy and finance their houses. In just under two years, Huspy has grown to become one of the largest property platforms, facilitating billions of dollars in volume. Today, we’re humbled to partner with global and regional investors and we look forward to working together to reshape the world’s largest asset class.”
The new capital will be used to drive Huspy’s expansion plans and transform the future of home buying across the EMEA region.
“We are impressed with Jad and Huspy’s mission to transform the home buying and financing experience in the region. In a short period, the company has demonstrated its strong value proposition for the real estate ecosystem and has become the market leader in mortgage broking in the UAE with healthy unit economics. And, Huspy’s ethos to build for the long term with a deep focus on having the best team in the region resonates deeply with us,” stated Mr. GV Ravishankar, MD of Sequoia India.
Huspy also announced the launch of its full-service property marketplace to strengthen its position as a leader in home finance. Its newly launched property marketplace provides a single platform to discover, purchase and finance a home.
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