UAE-based proptech platform Huspy has raised $59 million in a Series B round, paving the way for expansion into Saudi Arabia and six more Spanish cities.
The funding, led by UK’s Balderton Capital, marks another milestone for the fast-growing startup. The round also saw continued backing from Peak XV (formerly Sequoia India & SEA), ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners. This follows Huspy’s $37M Series A in 2022 and a subsequent extension, reinforcing investor confidence in the company’s strategy and scalability.
Since its launch in 2020 by founders Jad Antoun and Khalid Ashmawy, Huspy has sought to simplify the home-buying experience. It does so by connecting buyers, brokers, and banks through a digital-first platform that tackles inefficiencies and brings transparency to mortgage and real estate transactions.
Huspy’s growth has been driven by a repeatable playbook, honed first in the UAE and later in Spain, where it achieved over 20x year-on-year growth. Operating already in Madrid, Valencia, Alicante, and Malaga, Huspy plans to enter six additional Spanish cities by the end of 2025. In parallel, the company is preparing its entry into Saudi Arabia and expects to have a presence in more than ten cities globally by the end of next year.
The company’s model emphasizes partnerships with local banks, digital mortgage pre-approvals, and a network-driven approach that engages freelance agents. This contrasts with inventory-heavy models seen elsewhere in proptech and resembles an “Uber for real estate,” minimizing overhead while maximizing reach.
Notably, Huspy has captured around 25–30% of the UAE mortgage market, handling more than $7 billion in real estate transactions annually. In Dubai alone, the company processes a quarter of all residential mortgage activity.
A key driver of Huspy’s success has been its technology-enabled operations. Earlier this year, it introduced the GCC’s first AI-powered mortgage chatbot, Huspy.Ai, designed to streamline home financing. Its platform also provides CRM tools, transaction support, and integrated mortgage products for brokers and agents.
To sustain its momentum, Huspy is ramping up hiring for technology and expansion roles. The team already includes talent drawn from leading global tech and real estate firms and operates tech hubs in both the UAE and Spain.
Huspy’s funding comes at a time when the global proptech sector faces headwinds, with rising interest rates and profitability challenges squeezing peers in the US and Europe. Despite this, Huspy’s efficient, scalable approach and strong banking relationships have allowed it to thrive where others have faltered.
“After 4 years of investing in our systems, we are now able to operate with a lot of agility allowing us to expand the business at a high growth rate for years to come,” said Antoun. This confidence is bolstered by favorable market signals, such as Dubai’s 4.76% rise in mortgage transactions during Q1 2025, indicating robust buyer demand.
