The proptech Habi becomes Colombia’s second unicorn with a $200M Series C

proptech-habi

The proptech Habi raised a $200M series C round and gained unicorn status. Habi became the second startup to achieve the 1 billion valuation in Colombia after Rappi. The company has also become the first proptech to become a unicorn in Latin America.

Some of the investors that participated in the round are Softbank, Homebrew, Tiger Global and Inspired Capital. The startup had already raised a $100M Series B round last year and in January 2022 acquired the Mexican company Okol.

The company digitalizes and simplifies the process of buying and selling a property. Habi acquires homes, renovates them, and promises to sell them in a period of 45 to 60 days at a competitive price.

The startup also uses a pricing algorithm and a centralized database. The algorithm, known as the “Habimetro”, gives customers a price for their property depending on its characteristics. The centralized database allows clients to digitally access documents such as their mortgage and property deeds.

The startup’s cofounders Brynne McNulty Rojas and Sebastián Noguera created the company in Colombia but expanded the business to Mexico last year. The proptech Habi already counts with a thousand employees and is operating in 15 cities in Mexico and Colombia:

“Today we are the largest buyer of used housing in Colombia and Mexico and this is very important because we have become their liquidity provider. I think we can still be 10 or 20 times bigger in what we do,” explains Noguera.

He also shares that the startup is planning to expand to other countries in Latin America and to further strengthen its fintech segment:

“What we do know is that we are going to make mortgage and consumer loans backed by housing grow and that is why we are the largest mortgage broker in Colombia”.

Read more on Bloomberg.

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