LatamList – La Haus, a Mexican-Colombian proptech platform recently raised $10M in a Series A led by Kaszek Ventures, after previously raising $6M from NFX, Acrew Capital, and other investors in previous rounds.
La Haus is disrupting Latin America’s real estate landscape with an end-to-end marketplace. The company’s solution facilitates traditional real estate transactions online, providing homebuyers and sellers with the infrastructure and transparency that oftentimes lacks in Latin America.
La Haus facilitates over $250M in annualized gross merchandise value, with an increase of 300% year-over-year. During the COVID-19 crisis, La Haus’s market share in Bogotá and Medellín grew from 4 to nearly 30%. La Haus also had a recent expansion into Mexico City, which now accounts for over 25% of its business.
“Because of COVID-19, consumers’ willingness to conduct real estate transactions online has gone through the roof,” said Rodrigo Sánchez Ríos, La Haus co-founder and President. “Fortunately we were in the position to enable that, and we expect to see a permanent shift online in how people conduct all, or at least most, of the home-buying process. This funding gives us ample runway to build the end-to-end real estate experience for the post-COVID Latin America.”
Buying and selling a home in Latin America presents many challenges including annual mortgage interest rates ranging from 12 to 18% and an average transaction time from listing to closing of 12 months. These obstacles create a housing stagnation and an impediment to economic development in a housing market valued at an estimated $10T.
“We backed La Haus because we saw many of the same ingredients that resulted in a fantastic outcome for many of our successful companies: A world-class team with complementary skills; a huge addressable market; and an almost religious zeal by the founders to solve a big problem with technology,” said Hernan Kazah, co-founder and Managing Partner of Kaszek Ventures.
La Haus is based in Medellin, Colombia, and operates in Medellin, Bogota, and Mexico City.
2 comments
Thank you LatamList for the note! We’re very proud to receive such robust backing from KaszeK Ventures, NFX, and Acrew Capital, the best in the business.
At La Haus, we’re convinced that our formidable team, the size of the market, and our traction to date puts us on the path to build the leading Proptech in Mexico and Colombia, and soon in all of Latam.
Congratulations on this feat!