Huspy Bags Investment Round Headed By Balderton Capital
The real estate technology firm is developing the greatest technology for brokers and agents to create a Super App for real estate.
Property technology leader Huspy, headquartered in the UAE, has secured a significant funding round. The investment, led by Balderton Capital with participation from existing investor Fifth Wall and others, comes at a valuation exceeding their 2022 Series A round. This funding marks a turning point for Huspy's vision: building a comprehensive real estate Super App that revolutionizes home buying across Europe and the Middle East.
Launched in 2020, Huspy has become a major force in the region. Within its first year, it became the UAE's largest mortgage provider. Today, it facilitates over 25% of all residential mortgages in Dubai. Huspy offers a one-stop shop for home buying and selling in the UAE and Spain. The company aligns with the UAE's goals, attracting top talent and fostering innovation. They've brought over 200 professionals to the region from across the globe. Some of the most well-known venture capital companies in the world, including Founders Fund, Balderton Capital, Breyer Capital, VentureFriends, B&Y Venture Partners, COTU Ventures, VentureSouq, Peak XV (previously Sequoia Capital India & SEA), and others, have also contributed money to Huspy.
Strategic Investment and Global Recognition
Huspy has expanded its offerings beyond mortgages, encompassing all aspects of real estate. They streamline the entire home-buying process, from searching to financing and beyond. To date, Huspy has processed over AED 22 billion in home transaction value, helping over 13,500 people achieve homeownership.
Rana Yared, General Partner of Balderton Capital commented on the investment, “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. 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.”
Balderton Capital's leadership in this funding round validates Huspy's European potential. Balderton, known for backing successful startups like Revolut, demonstrates strong confidence in Huspy's future. Existing investor Fifth Wall and others have also increased their investments, reconfirming their belief in the company. Miguel Nigorra, Partner & Head of Europe at Fifth Wall commented: “We continue to see significant opportunities to disrupt the real estate market in EMEA. We believe Huspy’s industry-leading management team, strong investor base, and end-to-end offering bring a much-needed, differentiated value proposition for the market’s brokers.”
Vision for the Future: A Real Estate Super App
Jad Antoun, CEO and Co-founder of Huspy commented on the round and expansion. “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. 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.”
Huspy aspires to become the leading home-buying company in Europe and the Middle East. Their vision hinges on a real estate Super App that simplifies the entire process. The company will first roll out its full suite of services across Spanish cities before expanding throughout Europe and the Middle East.
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