Business

Bogota-based Habi raises $75 million in credit lines one month after closing $200 million Series C

Habi, a data-driven residential real estate platform based in Bogotá, announced an additional $75 million in credit lines from financial institutions like TriplePoint Capital, as well as leading fintechs and local banks.

These additional funds come just one month after Habi raised $200 million in equity in its Series C led by Homebrew and SoftBank Latin America Fund, which turned the startup founded by Brynne McNulty Rojas and Sebastian Noguera into the first proptech unicorn in Spanish-speaking Latin America, joining Brazilians Loft and QuintoAndar.

According to the company, credit lines will be used to further expand Habi’s capacity to offer financial services to its consumers to buy and sell their homes through the platform. Habi said it expects these funds to generate many thousands of annual purchases and sales, with the goal to provide liquidity to more Latin American families through a simple and secure process.

READ ALSO: Proptechs leap ahead of fintechs and lead Latin American investments in May

“Accessing these new credit lines, just one month after announcing our Series C, reiterates the confidence that several of the world’s most important financial institutions have placed in Habi, and even more importantly, that they continue to bet on our region to improve the quality of life for millions of Latin Americans,” said Habi’s CFO Marcos Kantt.

Founded in late 2019, Habi uses a custom-built pricing algorithm and database, which is ‘fed’ not only with information gathered by the startup but collected through partnerships with other real estate and financial companies, in addition to government institutions in Colombia. With it, it says to be capable of selling a real state property in ten days, giving homeowners reliability and access to liquidity. According to Habi, brokers and banks can also benefit from the startup‘s operation, using its database to harness data that empowers them and make better lending decisions.

READ ALSO: US-based Sezzle debuts in Brazil with its BNPL solution for small and medium-sized businesses

Habi currently operates in more than 15 cities in Colombia and Mexico, and it claims to be the largest proptech in these countries. The larger footprint in its second market came with the acquisition last January, of two Mexican online marketplaces: Propiedades.com and iBuyer Tu Canton.

With over $450 million dollars in capital raised to date, the startup does not disclose its revenue number but says it saw its turnover grow 20 times in 2021.

This post was last modified on June 15, 2022 4:09 pm

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