Dubai-based proptech startup Huspy has closed a $59 million Series B funding round led by existing investor Balderton Capital to expand operations across the Middle East and Europe. Founded in 2020 by Jad Antoun to address the months-long paperwork and price discrepancies plaguing UAE mortgage applications, Huspy has grown into one of the largest proptechs in the UAE over the past five years, providing digital tools for finding homes and obtaining mortgages.
The company previously raised over $40 million in Series A funding in 2022 from prominent investors including Balderton Capital, Founders Fund, and Peak XV Partners (formerly Sequoia Capital India & SEA). Within three years of launching, Huspy captured 30% of the UAE mortgage market, including 25% in Dubai, one of the world’s most active real estate markets. This traction and the exclusive banking relationships built as a result became a springboard for international expansion.
Rather than owning inventory like iBuyer models or operating as a traditional brokerage, Huspy runs a network-based model across the UAE and Spain that resembles “Uber for real estate more than Zillow.” Freelance agents use the platform to access property leads from marketplaces like Property Finder and Idealista, while Huspy provides CRM tools, transaction support, and integrated mortgage products through banking partners. The company began scaling into Spain in 2022, targeting the fragmented market with over 100,000 registered agents.
The startup has helped over 25,000 people buy homes across its markets and grown revenue more than 10x since 2022, facilitating over $7 billion in transactions. In under a year, Huspy claims to be one of the top three real estate companies in Valencia by transaction volume, operating in six Spanish cities with over 20x year-on-year growth. The company plans to operate in over 10 cities by the end of 2025 and launch in most major European and Middle Eastern cities over the next four years.
Huspy has “built a repeatable and efficient playbook for city launches, and their pace of innovation — especially around AI tools for brokers and agents — continues to raise the bar for the entire industry,” said Rana Yared, general partner at Balderton Capital.
“I think it’s going to be difficult for someone to compete on the mortgage product specifically across both markets,” said Antoun. “We’ve just been here longer, and in Spain, we have better efficiency.”
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
