UAE-based PropTech startup, Huspy has acquired Dubai-headquartered mortgage and property consultant, Home Matters for an undisclosed amount, to create the country’s largest home financing platform.
The combined entity will manage more than $1 billion in gross merchandise value annually and employ over 150 people, the companies said.
Following this acquisition, Huspy will continue to focus on customer and partner network growth and technology development, in addition to widening its geographic presence beyond the UAE and across Europe. Currently, it is operational in the UAE and Spain.
Founded in 2020, Huspy aims to simplify the home financing process and home buying overall for its clients in the Emirates. It acts as a link between potential property buyers and banks and private lending companies. The company has achieved a nearly 30 percent month-on-month growth in the past year.
Prior to its acquisition, Home Matters was the second-largest home mortgage broker in the UAE, having launched operations over 15 years ago. It intends to help its clients save money and reduce risk when they buy or refinance a property in the UAE.
The home mortgage market in Dubai has grown by 68 percent between the first and third quarters of 2021, as a result of efforts across the value chain to simplify financing and accelerate market growth.
Jad Antoun Co-founder & CEO Huspy
“Today we are excited to announce the acquisition of Home Matters and advance our mission to make home financing seamless and more accessible than ever before. Home Matters’ decade-long experience will benefit Huspy, creating incredible opportunities and impact for us both. This acquisition further strengthens the leadership position of both entities, and with our partner network across the real estate and financial services industries, we remain the trusted choice for customers buying their dream home.”
Backed by mortgage industry veterans, Home Matters has an unparalleled track record in the UAE. With this acquisition, Home Matters’ customers will benefit from an omnichannel offering, with access to an advanced technology platform, in addition to a wide team of industry experts.
“Huspy’s tech know-how and ambition combined with Home Matters’ experience, knowledge and goodwill, form a perfect partnership to improve and serve the UAE mortgage market. In the coming weeks, we look to adopt best practices from both organizations to create an unmatched customer experience,” said Mr. Sawan Karia, Managing Director of Home Matters.
With this acquisition deal, Huspy and Home Matters will together provide customers with access to the largest network of home financiers and lenders in the UAE. The digital-first platform will evolve customer experiences and provide real-time advice to home buyers. Huspy’s platform will also equip partners with complete visibility of their customer pipeline, letting them to manage their portfolio of cases efficiently.
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