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If you walked into a Dubai bank to apply for a mortgage in 2020, chances are you’d spend months buried in paperwork or face a huge price discrepancy when it came to listings. Such experiences led Jad Antoun to start Huspy, a startup streamlining how people in the UAE buy homes digitally.
Huspy: Revolutionizing the Real Estate Industry
Over the past five years, the company has grown into one of the largest proptechs in the UAE and has expanded into Spain, providing digital tools for finding homes and obtaining mortgages. Huspy just closed a $59 million Series B to double down on operations across the Middle East and expand its European presence, led by existing investor Balderton Capital.
Innovative Approach to Real Estate
Antoun said he learned through his first market in the UAE how to target pain points in a country’s mortgage process. He struck partnerships with leading banks and introduced digital pre-approvals on a platform connecting brokers and borrowers. Instead of owning inventory like iBuyer models or operating as a traditional brokerage, Huspy runs a network-based model across the UAE and Spain, providing CRM tools, transaction support, and integrated mortgage products through its banking partners. It’s a low-overhead approach that resembles Uber for real estate more than Zillow.
Future Expansion and Growth
Antoun believes the company has found a repeatable model that will be hard to replicate: enter midsized cities with high transaction volume and low agent efficiency, build supply through marketplace partnerships, onboard top-performing agents onto the platform, and layer in mortgage distribution. In under a year, Huspy claims to be one of the top three real estate companies in Valencia by transaction volume and already operates in six cities across Spain with over 20x year-on-year growth. With plans to launch in most major cities across Europe and the Middle East, Huspy aims to operate in over 10 cities by the end of 2025.
