Dubai: The home financial solutions provider Huspy, based in the UAE, has received $37 million through a Series A round, with the support of Sequoia Capital India, Founders Fund, and Fifth Wall. Chimera Capital of Abu Dhabi, which had prior involvement with the startup, also participated.
Huspy will use the money to expand throughout Europe; it is already present in Spain and is still well-known in its home market of the UAE. The promoters want to become “one of the largest housing platforms in the UAE” and increase by 25% month over month.
In 2022, Huspy purchased Home Matters after raising one of the largest seed rounds ever in the MENA area. In the UAE, digital proptech platforms have made progress, either by acting as a conduit for crowdfunded projects or by providing mortgage solutions. The benefit when it comes to mortgage finance is that they reduce the time generally needed when potential homeowners speak with banks directly.
Huspy co-founder and CEO Jad Antoun stated, “Our objective is to continue expanding Huspy into a category-defining firm and establish a new benchmark for how people buy and finance their residences.” “Huspy has expanded to become one of the largest property platforms, facilitating billions of dollars in volume, in just under two years.”