If you walk to the Bank of Dubai to apply for a mortgage in 2020, the possibility you use many months to be buried on paper or faced the value when you arrive on the list. The experience causes an antun Jad to start the HSUPU, starting to argue how the UAE buys a digital house.
In the past five years, the company has grown into one of the largest proptechs in the UAE, and has been exposing to Spain, by giving digital tools to discover the hospitality and earned a mortgage.
HUPUPU just closes $ 59 million B to doubled the surgery on the middle east and expand the European, led by capital Investor Balderton existing and peak XV.
In 2022, the HUPUPY is up Over $ 40 million in a series A and Extensions Of the global investors, including capital Balderton, Funding Fund, and the summit of XV (used to sequoia capital India & Sea).
Other investors include Empire, Capital of Kitmeric, according to effort, Dara Management, and to a partner. The new capital will process the hypspy growth in the UAe and Spain and support the launch in Saudi Arabia, anniverson tells techcrroch in the interview.
This investment is significantly because proptech has been a difficult sector in the past few years. Companies like opendoor and compass are struggling to maintain value and profits in the middle of the US-interest rate. Many Startups have also burned through cash and struggle.
The HUPUPU has “Build an unobscribed and efficient playbook for the city, and the pace of innovation – especially around AI tools for the entire adventure,” Rana Yared, Mitra Balderton.
Antoun said that Hukpy he knew through the first market in the UAE way to the target pain in the state’s mortgage process. He attacked the partnership with the main bank and introduce digital pre-agreements on platform that connecting platforms and borrower.
For the three years, the company said that 30% was taken from the UAE mortgage market (25% in Dubai, one of the most active real estate markets). The traction, and exclusive banking relationships are built as a result, turns springboard for expansion.
In 2022, began to crawl to Spain, the greater real estate market with over 100,000 registered agents, according to Antoun.
Instead of having an inventory like Motheryer models or operation as traditional brokers, the HUPPUD opens a network based on UAE and Spain models. Freelance agents use platforms to access posts from market like FindLaces like HUPPU provides CRM tools, transactions support, and mortgage product integrated.
This is a less thanhead approach that resembles uber for real estate than zillow.
Antoun, before the investment team at the Investment-Stage VC Beco Capital, and Deputy CEO Ziad Nasses, which creates a company that can be used on the transaction platform, and the corporate can find platform, and layer of mortgage distribution.
In a year, the HUPUPU is claiming to be one of the top three highest real estate companies in Valencia by volume transactions. This has operated in six cities in Spain, where it can claim about 20x years growth.
“I think it’s difficult for someone who committed in special mortgage products between the two markets,” antron said. “We’ve been too long, and in Spain we have better efficiency.”
Anniversary says the beginning has helped more than 25,000 people bought homes in the market and earned, who benefits successful, and costing $ 7 billion in transactions.
During the next four years, the company is planning to launch in the largest cities in Europe and the Middle East, in the Middle East region, the present in the player Proptech, Nawy, also raises another year round. The HUPUPUP plan to operate more than 10 cities in the late 2025.
