The Bogota-based real estate platform Habi announced on Wednesday that it has raised a $100 million Series B round led by the SoftBank Latin America Fund alongside previous investors Inspired Capital, Tiger Global, Homebrew, and 8VC.
“With our unique dataset and proprietary platform, Habi is transforming what was once a murky, painful and months-long ordeal into a transparent, predictable, and easy process, completed in a matter of days,” said co-founder and CEO Brynne McNulty Rojas in a statement to the press. “We look forward to partnering with SoftBank, along with our existing investors, to expand our services across the continent.”
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According to Crunchbase‘s data, the $100 million investment is the largest Series B round ever raised by a startup headquartered in Colombia to date. Focused on middle-class consumers in Spanish-speaking Latin America, the proptech firm will use the new resources to fuel its growth in Colombia and expand its footprint into Mexico.
Founded in late 2019, Habi uses a custom-built pricing algorithm and database. From May 2020 to May 2021, its transaction volume rose by 40% month-over-month amidst the COVID-19 pandemic. The real estate startup currently operates in four cities across Colombia: Bogotá, Medellín, Barranquilla, and Cali, comprising just under five million households.
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“Habi has built an incredible platform that is shaping the future of proptech in Spanish-speaking Latin America,” said Shu Nyatta, managing partner at SoftBank’s SBLA Advisers Corp, in a press release. “Utilizing the information collected through its proprietary database, Habi is increasing liquidity in the market to create a better, more efficient residential ecosystem. We seek to invest in companies that are transforming the lives of those in the region, and Habi is doing just that.”