Business

LatAm-based real estate startup La Haus raises $100 million Series B expansion

Series B follow-on co-led by Acrew Capital and Renegade Partners brings the company’s total Series B funding to $135 million

Left to right is Rodrigo Sanchez-Rios, president; Jeronimo Uribe, CEO; Thomas Floracks, CPO; and Santiago Garcia, CTO. Photo: La Haus/Courtesy

La Haus, a Mexico and Colombia-based real estate startup, on Thursday announced it has raised $50 million in a Series B follow-on co-led by Acrew Capital and Renegade Partners. In addition, the company secured $50 million in debt funding. The round brings the company’s total Series B funding to $135 million. In January,  the startup raised a $35 million Series B round led by Greenspring Associates.

READ ALSO: Brazil’s proptech unicorn QuintoAndar raises US$300 million to expand to Mexico

Also investing in this new extension round are Jeff BezosBezos Expeditions, Endeavor Catalyst, Moore Strategic Ventures, Marc Benioff’s TIME Ventures, Rappi’s Simon Borrero, Maluma, and Gabriel Gilinski. Past investors also participating in this round include Greenspring Associates, Kaszek, NFX, Spencer Rascoff’s 75 & Sunny Ventures, Hadi Partovi and Nubank’s David Velez. Acrew Capital has also invested in past rounds. 

READ ALSO: COVID-19 is speeding up the digitization of Latin America’s real estate market

Proceeds will be used to fuel geographic expansion and introduce financing solutions.

The startup says the funding expansion was driven by exponential growth in Mexico, where transactions grew almost 10 times from 2020’s second-quarter to 2021’s second-quarter. La Haus expects to achieve more than $1 billion in annualized gross sales by the end of 2021.

READ ALSO: Chilean answer to QuintoAndar, Houm raises $8 million Post-Seed round

It says it is selling more than 500 homes per month in the Spanish-speaking Latin America, and by the end of 2021, it also says it will be in every major metropolitan area in Mexico and Colombia

READ ALSO: Colombian real estate startup Habi.co raises $10 million investment

La Haus has rolled out financing programs that it expects to catalyze growth in the year’s second-half and beyond. “We are so grateful that our international investors recognize the transformative impact La Haus is having on the unstructured residential markets of Latin America. We are tailoring our solutions specifically for the needs of Latam, bringing more transparency and higher productivity to the entire ecosystem,” said La Haus co-founder and President Rodrigo Sánchez-Ríos, in a press statement.

“Today we are bringing the pride of quality home ownership to Latin Americans. Longer term, our vision is to change the social structure of all emerging markets, in Latin America and beyond.” 

Recall La Haus’ recently rounds:

  • Series B extension – $ 100 million led by Acrew Capital and Renegade Partners, debt funding
  • Series B – $35 million Series B round led by Greenspring Associates
  • Series A – $10 million led by Kaszek Ventures, after previously raising $6 million from NFX.
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