UAE’s Huspy Secures $59M Funding for European Expansion
▼ Summary
– Jad Antoun founded Huspy to simplify the UAE’s complex home-buying process through digital tools, addressing paperwork and pricing challenges.
– Huspy raised $59 million in Series B funding to expand in the Middle East and Europe, following a $40 million Series A in 2022 backed by top investors.
– The company operates a network-based model, connecting freelance agents with property leads and offering mortgage products, achieving 30% UAE market share.
– Huspy has expanded to Spain, becoming a top-three player in Valencia and growing transactions 20x year-on-year by targeting inefficient markets.
– The startup plans to enter more European and Middle Eastern cities, aiming to operate in over 10 locations by 2025, leveraging its scalable model.
Navigating the complex world of real estate just got easier thanks to Huspy, a UAE-based proptech startup revolutionizing home buying across the Middle East and Europe. The company recently secured $59 million in Series B funding, led by Balderton Capital, to accelerate its expansion plans. This latest investment builds on Huspy’s earlier $40 million Series A round, backed by prominent investors like Founders Fund and Peak XV Partners.
Founded by Jad Antoun in 2020, Huspy was born out of frustration with the cumbersome mortgage process in Dubai. By digitizing home searches and financing, the platform has since captured 30% of the UAE mortgage market, with a particularly strong presence in Dubai’s high-volume real estate sector. The company’s success in streamlining transactions has now paved the way for its European ambitions, starting with Spain.
Unlike traditional brokerages or iBuyer models, Huspy operates a network-based approach, connecting freelance agents with property leads from major marketplaces like Property Finder and Idealista. The platform provides agents with CRM tools, transaction support, and mortgage solutions through partnerships with leading banks. This asset-light strategy has allowed Huspy to scale efficiently, achieving 20x year-on-year growth in Spain within just a year of operation.
Antoun, who previously worked in venture capital, and deputy CEO Ziad Nassar believe their model is uniquely difficult to replicate. By targeting mid-sized cities with high transaction volumes but low agent efficiency, Huspy has quickly become one of the top three real estate players in Valencia. The company now operates in six Spanish cities and plans to expand further across Europe and the Middle East, aiming for a presence in over 10 cities by 2025.
With more than $7 billion in facilitated transactions and a growing user base of over 25,000 homebuyers, Huspy is proving that proptech can thrive even in challenging market conditions. As the company prepares to enter Saudi Arabia and additional European markets, its focus on AI-driven tools for brokers and seamless mortgage integration positions it as a leader in reshaping the future of real estate.
(Source: TechCrunch)
