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.