Huspy, a real estate technology company based in the UAE, has raised $59 million in a Series B funding round.
The company plans to use the funds to expand in Europe and further in the Middle East, including the imminent launch in Saudi Arabia.
Balderton Capital and Peak XV Partners led the funding round. Other investors who also joined include Founders Fund, ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners.
Huspy is a real estate tech company that helps people buy homes and get home loans through an online platform. It connects buyers with agents and banks to simplify the process.
The company uses a flexible network model that helps it grow quickly and work more efficiently.
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Unlike traditional real estate companies, Huspy works with independent agents who use its online platform to find property opportunities from sites like Property Finder in the UAE and Idealista in Spain.
Huspy also provides these agents with tools to manage customer relationships, facilitates transactions, and offers mortgage products through its banking partners.
Huspy was founded in 2020 by Jad Antoun, who had struggled to secure a mortgage in Dubai. He wanted to make buying a home easier by using digital technology.
In 2022, Huspy expanded internationally by entering the Spanish market. They focused on medium-sized cities where many real estate deals happen, but agents work less efficiently.
Huspy has “built a repeatable and efficient playbook for city launches, and their pace of innovation — especially around AI tools for brokers and agents — continues to raise the bar for the entire industry,” said Rana Yared, general partner at Balderton Capital.
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