Dubai-based Huspy, a PropTech startup, has raised one of the largest seed rounds in the Middle East and North Africa (MENA) led by VentureFriends.
Launched in August 2020, Huspy provides a web and app-based licensed mortgage platform to enable customers to have access to home financing products with no paperwork involved, according to a recent press release.
As one of the UAE's largest brokerages, the company has recorded $200 million in annualised gross market value (GMV) and over 150 transactions.
The Co-founder and CEO of Huspy, Jad Antoun, said: "The home-buying experience is broken, it takes consumers two months to finance their home and the majority overpay for their mortgage. This problem is present globally but is even more visible in emerging markets and we want to solve it."
Meanwhile, the Co-founder and CTO of Huspy, Khalid Ashmawy, commented: "We also designed our systems and architecture in a way, where we can launch in new markets quickly so we’re ready for international expansion."