PropTech Startup Huspy Nets $37M Series A

PropTechnology startup Huspy has announced in a press release on Tuesday (June 21) that it has raised $37 million in a Series A funding round led by Sequoia Capital India.

The funds will be used to invest in technology development, pursue growth in the UAE, Spain and across Europe.

Launched in 2020, Huspy is a home financing platform that allows buyers in the UAE to access mortgages online. The press release also announced the launch of Huspy’s full-service property marketplace.

“We’ve laid the foundation for a very defensible business that’s redefining home ownership in EMEA,” Jad Antoun, Huspy’s co-founder & CEO said. “Our aspiration is to continue building Huspy into a category-defining company and set a new bar for the way people buy and finance their houses.”

The funding round also included contributions from Fifth Wall, Chimera Capital and existing investors from its undisclosed seed round last April, including Breyer Capital, VentureFriends, COTU, BY Venture Partners and Venture Souq.

The news follows Huspy’s acquisition of Home Matters, the Dubai-based mortgage and property consultant, for an undisclosed sum earlier in the year. With that merger, Huspy became the UAE’s biggest home financing firm.

More like this: PayPal Ventures Invests in Rental FinTech Jetty for Product Expansion

In May, PYMNTS reported that PayPal Ventures and Experian Ventures had invested in financial services company Jetty, which aims to improve affordability in renting a home.

The company is using the new funding to launch a new program called Jetty Credit, a credit building service to help facilitate the reporting of rent payments to credit bureaus. This will add data to help renters with credit scores.