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New funding secured by UAE’s Huspy to develop SuperApp

With operations in Dubai, Abu Dhabi, and Madrid, Huspy is a property technology company based in the United Arab Emirates. The company recently announced that it has raised money in a funding round headed by Balderton Capital, with additional participation from Fifth Wall, an existing investor, and other investors.

Compared to its 2022 Series A, which raised $37 million and was led by Peak XV (formerly Sequoia Capital India & SEA), this funding round is valued at a significantly higher amount.

This recently disclosed strategic investment is a turning point in Huspy’s development of a real estate super app that will transform the way consumers purchase real estate in the Middle East and Europe.

Established in 2020, Huspy has quickly changed the real estate scene. In just its first year of business, it grew to be the largest mortgage provider in the UAE, and it currently processes over 25% of all residential mortgages in Dubai. Today, Huspy provides complete house buying and selling services in Spain and the United Arab Emirates.

The company has also brought top talent to the area and innovated within the industry, matching its goals with those of the UAE. Huspy has expanded the talent pool in the region by bringing over 200 professionals from over 40 countries to the UAE.

Moreover, Huspy has drawn funding from some of the most well-known venture capital firms in the world, including COTU Ventures, Founders Fund, Balderton Capital, Fifth Wall, Breyer Capital, VentureFriends, B&Y Venture Partners, Peak XV (formerly Sequoia Capital India & SEA), and others.

Based on this success, Huspy’s top official said the company has increased the range of products it offers to include everything related to real estate, simplifying the process of buying a house from financing to property search and beyond.

“Over the last three years, we’ve established a strong and defensible business in the UAE and we believe we have the foundations today for a European and Middle Eastern expansion. We are incredibly happy to partner with Balderton Capital, to focus on a European rollout,” remarked its CEO and co-founder, Jad Antoun.

“The goal for Huspy remains the same as day zero, to build a category-defining business in this space in Europe and the Middle East, and we believe we’re in a prime position to achieve that,” he added.

With the assistance of Huspy, over 13,500 people have been able to realize their dream of becoming homeowners, handling over AED 22 billion in home transaction value to date.

It is especially significant that Balderton Capital is leading this funding round because it confirms Huspy’s standing in Europe.

“We are excited to be partnering with the Huspy team to help scale the company in Europe. Offering a holistic real estate platform that connects all stakeholders, Huspy’s product has been thoughtfully designed to tackle major pain points and act as an operational cockpit for brokers and agents,” remarked Rana Yared, the general partner of Balderton Capital.

“Jad and the team bring exceptional ambition and deep market expertise, and we look forward to this next chapter as Huspy enters the European stage,” he added.

 

 

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