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UAE proptech Huspy raises $59M to scale in Europe
Huspy, a startup streamlining how people buy homes digitally, has secured $59 million in Series B funding to double down on operations across the Middle East and expand its European presence. The company’s existing investor Balderton Capital led the round, alongside Peak XV.
The startup has grown significantly since it started five years ago, when Jad Antoun founded Husky after experiencing himself how arduous the process of applying for a mortgage in Dubai banks was back in 2020. Over the past few years, Huspy has become one of the largest proptechs in the UAE, and has expanded into Spain.
Huspy’s innovative approach is to run a network-based model across the UAE and Spain, providing digital tools for finding homes and obtaining mortgages. Freelance agents utilize the platform to access property leads from marketplaces like Property Finder and Idealista, while Huspy supplies CRM tools, transaction support, and integrated mortgage products through its banking partners.
The company has discovered a repeatable formula that involves entering mid-sized cities with high transaction volumes and low agent efficiency, building supply through marketplace partnerships, onboarding top-performing agents onto the platform, and layering in mortgage distribution. This strategy enabled Huspy to become one of the top three real estate companies in Valencia by transaction volume within under a year of its entry into the Spanish market.
In addition, Huspy’s success has led it to claim over 25,000 people have purchased homes across its markets and has witnessed revenue growth more than 10x since 2022.
Source: techcrunch.com
