Investments

Dubai’s Holo raises fresh funds to grow its digital mortgage platform

Dubai-based digital mortgage platform Holo has raised an undisclosed amount of funding in a pre-Series A round from Dubai Future District Fund (DFDF) and Hambro Perks Oryx Fund, it announced in a statement today. The round which Holo says was oversubscribed follows a seven-figure (USD) seed round in early 2023 led by Saudi’s Watheeq Proptech Venture and Hambro Perks Oryx Fund.

Founded in 2020 by Michael Hunter and Arran Summerhill who have a collective experience of almost 25 years in the mortgage industry, Holo’s online platform enables individuals in the United Arab Emirates to check their eligibility for mortgage, compare 500 products from 20 different lenders, and recommend the best possible deal based on an individual’s profile and preferences.

The platform then helps the user complete the application online with the help of a case manager who guides them throughout the process. The team at Holo then chases the bank and carryout all the legwork to get the loan processed, the startup notes on its website.

Holo does not charge users anything and makes money by getting paid from the banks for finding them clients for their home financing products.

Michael Hunter, co-founder and CEO of Holo said, “Our primary objective from the beginning has been to enable the ecosystem and build a robust platform for home buyers—a core value we have consistently upheld. We have always prided ourselves on our capital efficiency and sustainable scaling. With this injection of new funds, we have the opportunity to scale aggressively while staying true to our core values.”

Arran Summerhill, COO & co-founder of Holo, added, “As a tech-first company, we are doubling down on our multiple platforms – direct to customers, agent apps and internal. These products have been built to allow for regional deployment. Our expansion plan remains focused on the MENA region, where we believe our products can have the greatest impact on the fast-growing property markets.”

The startup plans to use the latest funds to grow its presence in the United Arab Emirates and expand its footprint across the GCC, starting with Saudi Arabia. Holo also plans to further expand its team and product line using these funds.

Ali Qaiser, Partner at Hambro Perks Oryx Fund, said, “We are excited to back Holo as they continue to transform the proptech sector in the region. As the Middle East’s pioneer digital mortgage platform, we believe the company is very well placed to benefit from the rapid adoption of technology in acquiring real estate in the region.”

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