Holo, which provides free digital mortgage services in the Middle East, has closed a seven-figure funding round in their latest seed.
Watheeq Proptech Venture and Hambro Perks Oryx Fund served as the lead investors to the round. Other commitments came from DFDF, Annex Investments and Tawaref Angel Network.
Based in the UAE, Holo offers access to over 500 mortgage products from all the banks in the UAE. The platform offers free eligibility checks, which do not impact a customer’s credit score. A case manager will be allocated, and users can monitor applications 24/7.
Holo co-founder and CEO Michael Hunter said, “Since we launched in 2019, our mission has been to give aspiring homeowners fast and convenient access to free, unbiased mortgage advice and products; empowering customers to make the best decision for them. Our business is expanding but that mission hasn’t changed.
“We know that buying property is stressful for first-time buyers. We’ve set out to remove the headache by digitising the home-buying process and holding the customers’ hand until they get the keys, with transparent and accurate information, for free.”
Another recent FinTech development in the UAE was the acquisition of Underline. UAE-based FinTech Galaxy, which is a central bank-regulated open finance platform in the Middle East, bought Egypt-based open banking platform Underlie.
In Q3, FinTech deal activity reached 15 deals in total, no change from the previous quarter. However, this was a significant 45% drop from Q1 2022.
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