In a region where digital transformation is changing the property market landscape, Huspy has positioned itself as a pioneer in the field. Founded in 2020, Huspy has emerged as a disruptor in the UAE’s real estate sector, transforming what was once a paper-pen task into a full-fledged digital experience. Founded by Jad Antoun and later joined by Khalid Ahsmawy, the Dubai-based proptech has one goal: to make home financing as simple as booking a cab or ordering f00d online, offering a glimpse into the future of real estate transactions.
Transforming Traditional Mortgage Experiences
For decades, filling out mortgage applications has been one of the most complex and time-consuming aspects of buying a house. Huspy addresses these pain points by offering an entirely online mortgage platform, enabling users to calculate loan sizes, view personalised offers, and receive pre-approvals from their devices. This digital approach significantly reduces processing time, allowing Huspy customers to close transactions three times faster than traditional methods. It takes less time to complete the whole process, which means a greater profit share. The company’s emphasis on a customer-first experience has allowed it to scale at an impressive rate, achieving over $2 billion in annualised GMV(Gross Merchandise Value) and processing over 150 monthly transactions.
Meeting Market Demand with an Ambitious Growth Strategy
Despite the pandemic’s impact on many sectors, demand for property in the UAE has remained resilient. Real estate grew by 59% in 2021, yet only a small fraction of transactions occur through digital channels. Huspy’s solution addresses this gap by providing an easy-to-use platform that appeals to tech-savvy, convenience-oriented homebuyers. Huspy’s offerings are free for users, with the company earning revenue by charging partner banks a commission per loan. This model allows it to deliver services at a lower cost than traditional brokers.
Leveraging Investors’ Confidence To Fuel Expansion
Huspy’s innovative approach and future-proof model have attracted several investors throughout the years. One year after they founded the company, the company raised around $10 million in seed funding. This funding was followed by a $37 million Series A funding in 2022, which Sequoia Capital India led. It’s worth noting that the Series A funding attracted some top investors like Founders Fund and Fifth Wall, marking their entry into the Middle Eastern proptech market. This funding was important for the company and enabled it to expand its business beyond the confines of the Middle East. The Series A funding fueled Huspy’s ambition to enter the European market.
Beyond Mortgage: A Full-Service Real Estate Marketplace
In addition to mortgages, Huspy is broadening its scope to offer a full-service property marketplace, addressing every phase of the home-buying journey. The company recently acquired Home Matters, a leading mortgage consultancy, strengthening its market leadership in the UAE. This move aligns with Huspy’s vision of becoming the go-to platform for home financing, enabling users to navigate everything from loan approvals to property searches within a single ecosystem.
A Customer-Centric Model
Huspy’s success is rooted in its customer-centric approach. The company uses advanced algorithms to provide tailored mortgage options to its customers within seconds, ensuring that each homebuyer gets the best available deal. Moreover, the company reported that its customer-centric and digital approach has increased transaction efficiency by over 40% monthly, demonstrating the untapped potential of digital solutions in the real estate sector. Huspy might be a real-estate company but it is a technology company that deals in real estate. The founders of the company have a background in applied economics and technology. This has given the company a competitive edge in a usually very traditional market.
Setting the Standard for Proptech in EMEA
As Huspy continues its trajectory, it aims to redefine real estate across the EMEA region. The company’s ambition to simplify home ownership aligns with broader regional goals for digital transformation, making it a valuable case study in the rise of proptech. Backed by some of the world’s most influential investors, Huspy’s blend of convenience, speed, and customer focus positions it as a future category leader in digital real estate solutions.
The company’s journey reflects the evolving dynamics of the real estate sector in the UAE, and its successes indicate the potential of technology to transform traditional industries. As Huspy scales new heights, it will likely continue shaping the future of property transactions, one home at a time.
