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If you walked into a Dubai bank to apply for a mortgage several years ago, you might have faced months of paperwork or confusing price discrepancies in property listings. Frustrated by these challenges, Jad Antoun founded Huspy, a startup aimed at simplifying the home-buying process through digital solutions.
Over the past five years, Huspy has become a leading proptech company in the UAE and expanded into Spain. The platform offers tools for property searches, mortgages, and streamlined transactions. Recently, the company secured $59 million in a Series B funding round led by Balderton Capital, a key existing investor. This brings Huspy’s total funding to over $100 million following its Series A round in 2022.
The new capital will support Huspy’s growth in the Middle East and Europe. The startup plans to deepen its presence in Spain and enter Saudi Arabia while enhancing its AI-driven tools for brokers. Despite challenges in the proptech sector, Huspy has gained traction by addressing inefficiencies in real estate markets. Its platform now accounts for 30% of the UAE mortgage market and has expanded into six Spanish cities.
Rather than owning property inventory, Huspy operates a network-based model. Freelance agents use its platform to access property listings and manage transactions, supported by CRM tools and partnerships with banks. This approach has allowed the company to scale efficiently, resembling a hybrid of a brokerage and a tech platform.
Huspy’s success stems from targeting markets with high transaction volumes but low agent productivity. By integrating mortgages and digital approvals, the startup simplifies complex processes for buyers and agents. In Spain, it has grown 20-fold year-over-year, becoming a top player in cities like Valencia.
The company has facilitated over $7 billion in transactions and aims to expand to over 10 cities across Europe and the Middle East by the end of 2025. With its focus on repeatable growth strategies and AI innovation, Huspy is positioning itself as a key disruptor in global real estate.
