Habi, the leading unicorn and data-driven residential real estate technology (“PropTech”) platform in Spanish Latin America, raised $75 million in credit lines on June 14.
PropTech refers to all digital solutions used by real estate professionals to make it easier for consumers and improve the way they buy, sell, research, market and manage properties.
Habi operates in over 15 cities in Mexico and Colombia that have a combined population of more than 60 million. Since 2019, Habi has been building the digital infrastructure for a more efficient residential real estate market in Latin America.
The company has raised over $450 million in capital and is implementing a significant pipeline for further liquidity. With the $75 million credit lines, Habi will increase its capacity to assist more middle-class consumers in the process of buying and selling their homes, further transforming the housing sector in Latin America.
Due to the growth of the urban population and the growth of the middle class in Latin America, there is an increase in the demand for residential property in urban areas, which has generated an increasing urbanization. This market is expected to grow at a CAGR of over 5% over the next 5 years. However, among the approximately 600 million inhabitants, about 120 million live in settlements with inadequate and informal housing.
“Accessing these new lines of credit, just one month after announcing our Series C, reiterates the confidence that some of the world’s most important financial institutions have placed in Habi, and even more importantly, that they continue to bet on our region to improve quality. of life for millions of Latin Americans,” said Habi’s chief financial officer, Marcos Kantt, who has nearly 20 years of experience in investment banking. “Habi has a historic opportunity to transform the housing sector, thanks to major financial backing and a team with a rare level of human talent that seeks to shine every day.”
In addition, TriplePoint Capital, as well as FinTech and other leading banks, are among the financial institutions participating in their lines of credit. Having revenue growth of over 20 times in 2021, Habi’s business model has won the trust of financial institutions in Latin America and around the world.
Some countries in Latin America, such as Colombia and Mexico, are facing a demographic challenge as there are not enough new homes for the number of families who want to buy homes. This gap creates a need, not only for new housing, but also for used housing.
With the capital raised to date, Habi intends to continue to develop its suite of solutions, including iBuyer, brokerage, financial services and its marketplace, in order to provide access to liquidity and information in a data-driven marketplace. insufficient.
Habi expects to provide greater liquidity to more Latin American families by generating thousands of annual purchases and sales with these funds through a method that saves them time, paperwork and travel.
