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UAE-based real estate startup Huspy has raised a massive $59 million in Series B funding to expand its digital platform across Europe.
Huspy’s journey began when founder Jad Antoun faced significant challenges while applying for a mortgage in Dubai banks, requiring months of paperwork and huge price discrepancies. This frustrating experience led him to create Huspy, which aims to streamline the process digitally.
The startup has already made significant strides in the UAE, capturing 30% of the country’s mortgage market within just three years. This success is attributed to its partnerships with leading banks and the introduction of digital pre-approvals on a platform connecting brokers and borrowers.
This funding will be used to double down on operations across the Middle East and further expand Huspy’s European presence.
Source: techcrunch.com
