If you entered the Dubai Bank to apply for a mortgage in 2020, you would probably spend months buried in stationery or face a huge price discretion when it comes to lists. Such experiences led Jad Antoun to start Huspy, triggering as people in UAE buy homes digitally.
Over the past five years, the company has grown into one of the largest proptechos in UAE, and has expanded to Spain, providing digital tools to find homes and acquiring mortgages.
Huspy recently closed a $ 59 million series B to double operations through the Middle East and expand its European presence, led by existing investor Balderton Capital and Peak XV.
In 2022, Huspy raised More than $ 40 million in series A And extension From Who’s Who of Global Investors, including Balderton Capital, Founders -Fund, and Peak XV Partners (formerly Sequoia Capital India & Sea).
Other investors include Exor Ventures, Turmeric Capital, De Ventures, Dara Management, and that Partners. The new capital will feed Huspy’s ongoing growth in UAE and Spain and support its launch in Saud -Aarabia, Antoun told Techcrunch in an interview.
This investment is significant because Proptech has been a difficult sector over the past few years. Companies such as OpenDoor and Compass struggled to maintain assessments and profitting in the middle of higher US interest rates. Many Starts also burned with money and struggled.
Huspy “has built a repeatable and efficient game book for urban launches, and their rhythm of innovation – especially around AI tools for brokers and agents – continues to raise the bar for the entire industry,” said Rana Yared, Balderton’s general partner.
Antoun said that Huspy he learned through his first market in UAE as targeting pain points in a country’s mortgage process. He beat partnerships with major banks and introduced digital pre-approvers on a platform connecting brokers and borrowers.
Within three years, the company says it has captured 30% of the UAE -Hypotheca market (25% in Dubai, one of the most active real estate in the world). That traction, and the exclusive banking relations it built as a result, became a springboard for expansion.
In 2022, it began to climb in Spain, a fragmented real estate market with more than 100,000 registered agents, according to Antoun.
Rather than owning inventory as Ibuyer models or functioning as a traditional broker, Huspy arranges a web-based model across UAE and Spain. Freelance agents use the platform to access market property as a property finder and idealistic, while HUSPY provides CRM tools, transaction supports and integrated mortgage products through their bank partners.
It is a low-headed approach that is similar to Uber for real estate more than Zillow.
Antoun, formerly on the investment team at Dubai-based early VC Beco Capital Stage, and Deputy Director Ziad Nassar, who leads the European expansion of Huspy, believes the company has found a repeatable model that will be difficult to replicate: enter medium-sized cities with high transaction volume and low agent, construction of the market partnerships.
In less than a year, Huspy claims to be one of the three best real estate in Valencia by transaction volume. It already operates in six cities throughout Spain, where it claims more than 20x-year-old growth.
“I think it will be difficult for someone to compete for the mortgage product specifically through both markets,” Antoun said. “We’ve just been here longer, and in Spain we have better performance.”
Antoun says the startup has helped more than 25,000 people buy homes through their markets and has grown income more than 10x since 2022. The platform that earns income through commissions and successful fees, usually from real estate and banks, facilitate more than $ 7 billion in transactions.
Over the next four years, the company plans to launch in most cities throughout Europe and the Middle East, a region currently having its proptech moment, with another main player, Nawy, has also grown a major round this year. Huspy plans to operate in more than 10 cities in late 2025.
