UAE-Based Proptech Startup Huspy Raises US$37 Million In One Of The MENA’s Largest Series A Funding Rounds – Entrepreneur

UAE-Based Proptech Startup Huspy Raises US$37 Million In One Of The MENA’s Largest Series A Funding Rounds – Entrepreneur

Huspy, a UAE-based proptech startup, has raised US$37 million in a round led by venture capital firm Sequoia Capital India. Considered one of the largest Series A rounds in the MENA region, California-headquartered venture capital firms Founders Fund and Fifth Wall also made their Middle East investment debut in the round. Abu Dhabi-based investment firm Chimera Capital joined returning investors global venture capital firm Breyer Capital, Greece-headquartered VentureFriends, as well as MENA venture capital firms BY Venture Partners, COTU Ventures, and Venture Souq.

Huspy

Huspy leadership team: Murilo Marques, Chief Operating Officer; Jad Antoun, CEO and co-founder; Khalid Ashmawy, CTO and co-founder; Jorge Tung, Chief Product Officer; and David Rodrigo, Chief Experience Officer

Launched in 2020 by Jad Antoun and Khalid Ashmawy, the duo launched Huspy after noticing how property transactions in the Middle East are often fragmented. "The entire experience can be very cold, challenging, and exhausting," CEO Antoun says. "As a result, people just want to get the process over with, so they end up overpaying for mortgages, or worse, not closing the house they want." It is thus to address this issue that Antoun and his team developed Huspy to