The Middle East’s largest direct mortgage platform, Holo, has announced the conclusion of a funding round that was oversubscribed.
After exceeding its initial goals, the company decided to give potential investors a chance to participate in a pre-Series A round of funding, even though Series A funding was soon to follow. Leading the oversubscribed funding round was Oryx Fund, which added Aditum Investment Management Limited as a third investment to reaffirm their commitment.
Michael Hunter, CEO & co-founder of Holo, stated, “Our primary objective from the beginning has been to enable the ecosystem and build a robust platform for home buyers—a core value we have consistently upheld. We have always prided ourselves on our capital efficiency and sustainable scaling. With this injection of new funds, we have the opportunity to scale aggressively while staying true to our core values.”
Holo is strategically focusing its efforts on growing its market share in the United Arab Emirates with the infusion of capital. The funding also makes it possible to grow the team and develop new product lines. The company can now establish a larger presence throughout the GCC, with an immediate emphasis on Saudi Arabia.
Arran Summerhill, COO & co-founder of Holo, added, “As a tech first company, we are doubling down on our multiple platforms – direct to customers, agent apps and internal. These products have been built to allow for regional deployment. Our expansion plan remains focused on the MENA region, where we believe our products can have the greatest impact on the fast-growing property markets.”
The hope for a revolutionary change in home buying, powered by automation and artificial intelligence, was sparked by Holo’s funding in January.
Ali Qaiser, Partner at Hambro Perks Oryx Fund, said, “We are excited to back Holo as they continue to transform the proptech sector in the region. As the Middle East’s pioneer digital mortgage platform, we believe the company is very well placed to benefit from the rapid adoption of technology in acquiring real estate in the region. We look forward to continuing our partnership with Holo to help them realize this growth potential as they expand into new markets and enhance their services to make the user experience even more seamless.”
