Transforming Real Estate: Huspy’s Digital Revolution in teh UAE and Europe

Digitizing Mortgage Processes for a Seamless Home Purchase Experience

In the past, securing a mortgage in Dubai often involved cumbersome paperwork and unpredictable property valuations. These obstacles motivated Jad Antoun to create Huspy,an innovative startup focused on revolutionizing the home buying process across the UAE by fully digitizing mortgage applications and approvals.

From Local Success to International Expansion

Huspy quickly established itself as a leading proptech player in the Middle East. Building on its strong foothold in the UAE, it expanded into Spain-a market with over 100,000 real estate agents operating within a highly fragmented environment-offering digital tools that connect buyers with properties while simplifying mortgage procedures.

Meaningful Funding Accelerates Growth Trajectory

The company recently raised $59 million in Series B funding led by Balderton Capital to fuel its expansion across both Middle Eastern and European markets. This follows an earlier Series A round exceeding $40 million supported by investors including Founders Fund and Peak XV Partners.

A Unique Network-Based Model Beyond Traditional Brokerage

Differentiating itself from typical brokerage or iBuyer platforms that hold property inventories, Huspy operates through a network of independent agents who access leads via integrations with popular portals such as Property Finder and Idealista. Agents benefit from CRM systems, transaction management tools, and embedded mortgage services powered by partnerships with major banks.

This model reduces operational costs while enhancing agent productivity-similar to how ride-sharing companies transformed transportation without owning vehicles themselves.

Leveraging Technology to Address Market Inefficiencies

Drawing from firsthand experience navigating complex UAE mortgage regulations, Antoun secured exclusive agreements with leading banks enabling digital pre-approvals directly through Huspy’s platform. This innovation captured nearly 30% of the UAE’s mortgage market within three years-including 25% of Dubai’s active real estate sector-laying groundwork for further geographic growth.

Succeeding Across Borders: The Spanish Market Breakthrough

Within just one year of entering Spain, Huspy ranked among valencia’s top three real estate firms by transaction volume. Now operating across six cities nationwide-with annual growth surpassing twentyfold compared to initial figures-the company demonstrates its ability to replicate success beyond its original base effectively.

“our integrated mortgage solutions give us a distinct advantage,” explains Antoun. “Having operated longer here allows us greater efficiency than emerging competitors.”

A Profitable Model Driving High-Value Transactions

The platform primarily earns revenue through commissions charged both to real estate agents utilizing its services and banking partners facilitating mortgages. To date, it has assisted over 25,000 homebuyers across multiple regions while managing transactions exceeding $7 billion-a tenfold increase highlighting robust momentum as of early 2024.

Navigating Proptech Challenges While Expanding Horizons

• Aggressive Growth Plans: Over the next four years, huspy aims to establish operations throughout key cities in Europe and the middle East where demand for streamlined property transactions continues rising rapidly.
• Sustainability Through Technology: By focusing on scalable software solutions rather than asset-heavy models,they maintain flexibility amid fluctuating global economic conditions impacting real estate markets worldwide.
• Ecosystem Synergies: Strategic collaborations with financial institutions remain central; these partnerships enable seamless integration between property search platforms and instant financing options powered by AI-driven underwriting tools that substantially boost broker efficiency.

the Emerging Proptech Ecosystem in the Middle East

The region is experiencing growing investor enthusiasm toward proptech startups following ample funding rounds not onyl for Huspy but also competitors like Nawy-signaling an evolving ecosystem primed for disruption fueled by accelerated digital adoption trends post-pandemic recovery globally.