In just under two years, Huspy has grown to become one of the largest property platforms, facilitating billions of dollars in volume. Sequoia Capital India led the $37 million funding into the UAE-based proptech startup Huspy to accelerate Europe, the Middle East and Africa (EMEA) expansion. Sequoia India and Southeast Asia last week raised $2.85 billion across a set of funds, including a $2 billion early-stage, venture and growth fund for India and an $850 million Southeast Asian fund. The startup has reached $2 billion in annualized GMV, growing at 25 per cent (on-month) to become one of the largest housing platforms in the UAE.
Huspy said it will use the funds to invest in technology development, double down on growth in the UAE and Spain, and expand across Europe. The region’s startup ecosystem has grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes. Sequoia Southeast Asia has over 40 people across 12 nationalities, a large portfolio of seed, venture, and growth investments, “and a hub for programs like Surge and Spark, all driven by a growing conviction in the potential of our markets”.