Dubai’s Huspy raises fresh funds from Balderton to grow its ‘super app’ for real estate in Middle East & Europe

Dubai-headquartered proptech Huspy has raised an undisclosed amount of fresh funds in a round led by a leading European venture investor Balderton Capital (an early backer of Revolut, PhotoRoom, and Depop). The round was also joined by Fifth Wall, the world’s largest VC firm focused on real estate tech. The round follows a $37 million Series A Huspy raised in 2022, which was led India’s Peak XV (formerly Sequoia Capital India & Southeast Asia).

The startup said that the latest round was at a ‘considerably higher’ valuation than its Series A, without sharing further details.

Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy started as an online mortgage platform, enabling users in the United Arab Emirates to secure home loans through its web and mobile apps.

It grew to become the largest mortgage provider in the country, within its first year of operations and today facilitates over 25 percent of the residential mortgages in Dubai, the startup noted in a statement. It offers end-to-end home buying and selling services in the United Arab Emirates and Spain (where it launched in 2022).

Huspy has also expanded its offerings, to also making the process of finding a home easier. It now dubs itself as a superapp for real estate that streamlines the entire home buying process from property search to financing and beyond.

“To date, Huspy has processed over AED 22 billion (USD 6 billion) in home transaction value, helping more than 13,500 people achieve their dream of homeownership,” stated the Dubai startup in a statement.

The proptech wants to become the largest home-buying company in Europe and the Middle East. It plans to use the latest funds to fuel its expansion across the two regions.

Jad Antoun, co-founder and CEO of Huspy, said, “Over the last three years, we’ve established a strong and defensible business in the UAE and we believe we have the foundations today for a European and Middle Eastern expansion. We are incredibly happy to partner with Balderton Capital, to focus on a European rollout. The goal for Huspy remains the same as day zero, to build a category-defining business in this space in Europe and the Middle East and we believe we’re in a prime position to achieve that.”

Rana Yared, General Partner of Balderton Capital, said, “We are excited to be partnering with the Huspy team to help scale the company in Europe. Offering a holistic real estate platform that connects all stakeholders, Huspy’s product has been thoughtfully designed to tackle major pain points and act as an operational cockpit for brokers and agents. Jad and the team bring exceptional ambition and deep market expertise, and we look forward to this next chapter as Huspy enters the European stage.”

MB Staff

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