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UAE proptech Huspy raises $59M to scale in Europe
UAE-based proptech startup Huspy raised $59 million in Series B funding to enhance operations in the Middle East and expand into Europe, particularly Spain and Saudi Arabia. Growing rapidly in the UAE, Huspy offers a digital platform for home buying and mortgage solutions, capturing a significant market share. The company aims for further European growth with plans to operate in over 10 cities by 2025.
Key points
- Huspy raised $59 million in Series B funding, led by Balderton Capital.
- The startup has grown significantly in the UAE, capturing 30% of the mortgage market.
- Expansion into Spain began in 2022, utilizing a network-based model rather than traditional brokerage.
- Huspy enables freelance agents to access property leads and provides integrated mortgage solutions.
- The company has facilitated over $7 billion in transactions and plans to expand across Europe and the Middle East.
Why it matters
- Many proptech companies have struggled recently due to higher interest rates and cash burn.
- Huspy's efficient business model could inform future trends in the proptech industry as the sector adapts.
- The growing demand for digital solutions in real estate aligns with IT trends prioritizing innovation and efficiency through technology.
Huspy's successful funding journey and robust business model reflect a promising future for proptech, positioning it as a key player in transforming the real estate landscape in both the UAE and Europe by 2025.