Huspy Secures $59 Million Series B Funding
Huspy, a leading proptech company focusing on revolutionizing the home buying process, has recently announced the completion of a $59 million Series B funding round. The initiative is led by Balderton Capital, a prominent venture capital firm in Europe, and marks a significant milestone in Huspy's journey towards expanding its operations across Europe and the Middle East. The funding round also witnesses participation from Peak XV, alongside various other esteemed investors like ExBorder Partners, Turmeric Capital, and BY Ventures.
Expanding Footprint Across Regions
Currently, Huspy operates in key cities across the UAE and Spain. The latest funding will empower the company to bolster its presence significantly in these regions. Specifically, ongoing operations in Spain are already established in major cities such as Madrid, Valencia, Alicante, and Malaga. By the end of 2025, Huspy plans to launch operations in six additional cities within Spain and, moreover, to penetrate the Saudi Arabian market, which ranks as the largest economy in the Middle East.
With this aggressive expansion, Huspy aims to increase its operational footprint to over ten cities globally. The company's rapid growth trajectory is evidenced by an impressive 20x year-on-year increase in its Spanish real estate business during 2024.
Facilitating Real Estate Transactions
Huspy’s model revolves around creating better opportunities for real estate agents and mortgage brokers. With a robust technological platform and high commission rates, the company is positioned to significantly streamline the home buying and selling processes. As of now, Huspy facilitates over $7 billion in real estate transactions on an annual basis across Europe and the Middle East. "We are building a global business with aspirations to cover most major cities in Europe and the Middle East. Our infrastructure empowers real estate agents and brokers, enabling them to better serve their clients and grow their businesses," stated Jad Antoun, Co-Founder and CEO of Huspy.
Strategic Investments in Technology
The Series B funding will also support further investment in technology and strategic hiring efforts. Huspy is committed to enhancing its technological framework to provide clients and partners with seamless interactions, boosting efficiency significantly. Recruiting top-tier talents from across the globe is part of Huspy's strategy to build strong tech hubs in both the UAE and Spain.
Huspy is already recognized as one of the fastest-growing proptech companies in the UAE. Notably, in Dubai alone, the company's mortgage unit manages to process over 25% of all residential home financing, highlighting its pivotal role in one of the world's most dynamic real estate markets.
Renewed Partnerships and Vision for the Future
Balderton Capital expresses optimism about the partnership with Huspy, emphasizing the transformative capabilities of the technology being developed. "The team is effectively modernizing how real estate and mortgage businesses operate, leading to more efficient service for clients," added Rana Yared, General Partner at Balderton Capital.
As Huspy embarks on this promising expansion phase, it sets its sights high, envisioning a future where it stands as a leader in the proptech landscape across Europe and the Middle East, thanks to a unique blend of innovation, market insight, and strategic partnerships.
For further information about Huspy and its operations, check out their official website:
Huspy.