Dubai-based proptech firm Huspy has raised $59 million in Series B funding as it accelerates its expansion across Europe and the Middle East. The round was led by Balderton Capital, with participation from Founders Fund, Peak XV Partners, and others.
Founded in 2020 by Jad Antoun, Huspy aims to simplify the often complex and paper-heavy process of buying homes and securing mortgages in the MENA region. The startup’s tech-driven platform now serves customers in both the UAE and Spain, with plans to enter Saudi Arabia and other European cities.
“We’ve built a repeatable and efficient model for city launches,” said Antoun, noting the firm’s use of AI tools, CRM systems, and partnerships with local banks and property marketplaces like Property Finder and Idealista.
From UAE Roots to European Growth
Huspy first gained traction by capturing nearly 30% of the UAE mortgage market within three years—25% in Dubai alone, one of the world’s most active property hubs. Rather than operating as a traditional brokerage, Huspy empowers freelance agents with technology and access to listings, mortgage tools, and customer relationship management features.
The company began expanding into Spain in 2022, targeting mid-sized cities with high transaction volumes and fragmented real estate agency networks. In less than a year, Huspy claims it became one of the top three players in Valencia by transaction volume and now operates in six Spanish cities, with 20x year-on-year growth.
How the Business Works
Unlike property tech giants that own inventory or manage listings directly, Huspy follows a network-based model. The startup earns revenue through agent commissions and bank success fees, positioning itself more like an “Uber for real estate” than a Zillow clone.
So far, Huspy has facilitated over $7 billion in real estate transactions and helped more than 25,000 people buy homes. Since 2022, revenue has grown by over 10x, and the company has built exclusive partnerships with banks to offer digital mortgage pre-approvals.
Next Stop: Europe & Saudi Arabia
With the fresh funding, Huspy plans to:
- Deepen operations in Spain and the UAE
- Launch in Saudi Arabia in 2025
- Enter more than 10 cities in Europe and MENA by the end of 2025
“It’s going to be tough for anyone to match our mortgage offering across both markets,” Antoun said “We’ve simply been at it longer.”
Huspy’s low-overhead, tech-first model is proving to be a game-changer in regions historically resistant to real estate innovation. As the company scales across Europe and MENA, it’s not just simplifying home buying—it’s reshaping how the future of real estate will operate in emerging markets.
