UAE-based PropTech Huspy closes Series A

Huspy, an EMEA PropTech startup, has collected $37m in its Series A funding round, which was led by Sequoia Capital India.

Other commitments to the round came from Founders Fund and Fifth Wall, which made their first investment into a company in the Middle East. Chimera Capital, Breyer Capital, VentureFriends, COTU, Venture Souq and BY Venture Partners also joined the Series A.

This capital injection will help Huspy bolster its investment into technology development, push growth in the UAE and Spain, and expand across Europe.

Launched in 2020, Huspy aims to digitally transform and reimagine the home ownership journey.

Over the past two years, the company has reached $2bn in annualised GMV, growing at a pace of 25% month-over-month.

The PropTech platform provides real-time updates about mortgage applications, find multiple personalised offers from top UAE banks and complete the entire purchase process online. Users can also search for properties through the app.

Huspy co-founder and CEO Jad Antoun said, “We’ve laid the foundation for a very defensible business that’s redefining home ownership in EMEA. 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.

“In just under two years, Huspy has grown to become one of the largest property platforms, facilitating billions of dollars in volume. Today, we’re humbled to partner with global and regional investors and we look forward to working together to reshape the world’s largest asset class.”

Fellow UAE-based FinTech company Pemo recently collected $12m in funding. The company provides AMEs with an all-in-one spend management solution, with digitised invoices, automated approval flows and more.

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