"We Got Funded!" UAE-Based Proptech Startup Huspy Raises US$59 Million Series B Round With six new cities in Spain and a Saudi launch planned, Huspy expects to operate in over 10 cities by end of 2025.

Huspy, a UAE-based home-buying platform, has raised US$59 million in a Series B funding round led by Balderton Capital, a UK-based venture capital (VC) firm.

Balderton Capital had previously invested in the proptech startup in May 2024 during a round that was valued higher than Huspy's 2022 Series A funding of $37 million– which, at the time, was said to be one of the MENA's largest Series A funding rounds.

This Series B round also saw participation for a third time from India-based VC and growth investing firm Peak XV (formerly Sequoia Capital India and Southeast Asia), as well as US-based investment firm ExBorder Partners, Singapore-based private equity firm Turmeric Capital, UAE-based global venture firm BY Ventures, tailored investment and wealth management platform Dara Management, and KE Partners, a UAE-based investment firm by Elias Bakhazi and Karen Wazen.

Launched in 2020 by Jad Antoun and Khalid Ashmawy, Huspy operates in the UAE and Spain, facilitating over $7 billion in real estate transactions annually across both major markets. The platform aims to empower real estate agents and mortgage brokers with high commissions, best-in-class technology and robust infrastructure to serve home buyers and sellers more efficiently.

With the latest infusion of capital into its operations, Huspy is expected to bolster its European and Middle East expansion plans over a course of four years, invest more in technology and increase its strategic hiring. In particular, the startup aims to launch in six additional Spanish cities by the end of 2025, with its presence already established in Madrid, Valencia, Alicante and Malaga. Closer to the region, Huspy will also be expanding into Saudi Arabia, thus bringing its total footprint to ten cities globally.

"This funding marks a major milestone for Huspy as we embark on our expansion across Europe, while also entering Saudi Arabia, the largest middle east economy," said Antoun, exclusively to BIZ Experiences Middle East. "Today, Huspy provides mortgage brokers and real estate agents with the tools to secure and close deals faster than ever before while earning industry-leading commissions. To do this we've recruited from global technology firms which has significantly bolstered our talent capabilities and will continue to push out the best technology to the market."

In April this year, at the inaugural Dubai AI Week, Huspy launched the GCC's first AI-powered mortgage chatbot to transform home financing, Huspy.Ai. As such, to support its expansion, Huspy is hiring across expansion and technology-specific roles. The company has attracted global talent from leading companies in technology and real estate, and has established tech hubs in the UAE and Spain. "The team is building technology that modernizes real estate and mortgage businesses, allowing brokers to reap substantial efficiency gains that translate into serving more clients, better," added Rana Yared, General Partner at Balderton Capital.

Recognised as one of the fastest growing proptechs in the UAE, Huspy's mortgage unit is the largest in the UAE, processing over 25% of all residential home financing in Dubai. Meanwhile, in 2024, the company's Spanish real estate business achieved more than 20x year-on-year growth.

With the pain points being quite similar, Antoun notes that Huspy's aim is to provide the best infrastructure for real estate agents and mortgage brokers, thus enabling them to grow their businesses and serve home buyers and sellers efficiently. "The home buying journey around the world doesn't differ much across markets with fragmented services across every step," he adds. "Whether in the UAE or Spain, property buyers require access to affordable financing as well as access to the best properties in each market. We are doing all of this by giving all of our stakeholders access to the right tool to support home buyers. The funding will now help us to double down on Europe, initially in Spain and then in new countries there. We will also enter Saudi Arabia, a market that has a lot of potential, but lacks the technology tools to support home buyers, agents and brokers."

Huspy's growth plans come at a significant time for the Dubai's real estate market– in March 2025, the Dubai Land Department (DLD) announced that mortgage transactions were up by 4.76% in the first quarter of 2025 (as of March 19, 2025, a total of 2,065 transactions were recorded with a total value of AED10.26 billion). Serving as indicators of strong buyer confidence and increased accessibility to home financing, these statistics are being eyed with much keenness by the Huspy team. "Huspy is already the biggest processor of mortgages in the UAE, with one in four mortgages being processed through our platform," Antoun says. "For home buyers, we provide a single platform from financing to home purchase. Due to the size of our operations, we are able to secure some exclusive interest rates for our customers, which are market leading. The UAE's real estate market remains strong with local and international demand. For Huspy, this means continued growth in Dubai and Abu Dhabi, and we look forward to scaling our presence in Saudi Arabia."