Business

Mexico and Colombia-based real estate startup La Haus raises $35 million in funding

Funding will allow the startup, which enables online transactions helping Latinx buy their homes, to expand across the region

Left to right is Rodrigo Sanchez-Rios, president; Jeronimo Uribe, CEO; Thomas Floracks, CPO; and Santiago Garcia, CTO. Photo: La Haus/Courtesy
  • Three years after its foundation, La Haus has made nearly 4,000 transactions;
  • The new round follows a $10 million Series A round in early 2020.

La Haus, a Mexico and Colombia-based real estate startup, on Thursday announced a $35 million Series B round led by Greenspring Associates. The new funding will allow the company to expand its portfolio, and to extend its geographic reach to other parts of Latin America. This follows a $10 million Series A round in early 2020

Also participating in the round are Series A investors Acrew Capital; Kaszek Ventures; NFX, Trulia, a firm co-founded by Pete Flint; IMO Ventures; and Zillow‘s co-founder Spencer Rascoff. Hometeam Ventures also invested in the Series B round. 

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

La Haus facilitates traditional real estate transactions digitally, enabling entirely online transactions, and is building an end-to-end marketplace for Latin America. According to the startup, this makes homeownership more accessible in the region, where a lack of infrastructure and access to transparent information often prevent people from buying their own homes. La Haus facilitates over $500 million in annualized gross transaction value. 

READ ALSO: Brazilian real estate startup Alude raises a $3.3 million Seed round

A Latin America’s business story

La Haus was founded by Jerónimo Uribe (CEO), Rodrigo Sánchez-Ríos (president), Tomás Uribe (director), and Santiago Garcia (CTO).

Uribe and Sánchez-Ríos met at Stanford University. Prior to La Haus, they started and ran Jaguar Capital, a Colombian real estate development company with over $350 million of retail and residential projects. Garcia previously built technology platforms at Jaguar Capital. 

Three years after its foundation, La Haus has made nearly 4,000 transactions, “by far the most of any proptech company in Mexico or Colombia,” says the firm.

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

“We couldn’t possibly have imagined a year ago what life would be like right now, but we are grateful that the company we built pre-Covid was in a position to help so many Latin Americans find and buy their perfect home during the pandemic,” said La Haus co-founder and President Rodrigo Sánchez-Ríos, in a press statement.

“For most people, homeownership is key for the creation of wealth and stability. Before now, it’s been out of reach for many Mexicans and Colombians. We’re excited to use this funding to bring this opportunity to many more people across Latin America.”

READ ALSO: Mexico and Colombia-based real estate startup La Haus raises $16 million in funding

Over 2020, amid the backdrop of a booming housing market, the company has experienced double-digit month-over-month revenue growth while increasing efficiency and customer satisfaction. The company quintupled its business in Mexico over the last 12 months and facilitated more transactions than any other brokerage in Mexico City, it said.

From VivaReal to La Haus

In the past year, La Haus has hired a management team experienced in scaling companies. Among its leaders is Chief Product Officer Thomas Floracks, co-founder of VivaReal, a real estate portal in Brazil.

After VivaReal merged with Zap Imoveis, the combined company was recently acquired by OLX Brazil for $650 million. Under Floracks’ leadership, La Haus has created a Latam-leading product experience to search, view, and sell and buy real state properties.

READ ALSO: Brazilian real estate unicorn QuintoAndar returns to pre-pandemic levels

“We see incredible opportunity in proptech companies growing in Latin America, a region with more than 600 million people and relatively low but ever-growing homeownership rates,” said Seyonne Kang, partner at Greenspring Associates. “They face less competition from legacy companies and serve a huge and growing population that is just starting to embrace online transactions.”  

La Haus has also developed partnerships with significant developers in Mexico and Colombia, including Mexico-based GDC Desarrollos, CLASS, Punto Destino, Yukon, and Terraforma. The developers leveraged La Haus’ audience, using the startup’s transaction technology to implement digital-oriented sales processes, reducing sales time.