Breaking news

Huspy Secures $59 Million Series B To Revolutionize Digital Home Buying

Redefining UAE Mortgage Processes

In a market where traditional mortgage applications were synonymous with endless paperwork and pricing discrepancies, Huspy emerged as a clarion call for change. Founded by Jad Antoun, the startup streamlined home buying in the UAE by digitizing the mortgage process—a strategy that has since redefined standards in the region’s real estate sector.

Expanding Footprint Across Two Continents

Over the last five years, Huspy has ascended to become one of the largest proptech entities in the UAE, harnessing digital innovation to secure exclusive banking partnerships and facilitate pre-approved mortgage solutions. Building on this success, the company expanded into Spain—a market characterized by its fragmented real estate landscape—with a comprehensive network connecting over 100,000 agents and leveraging key partnerships with renowned platforms such as Property Finder and Idealista.

Innovative, Network-Based Business Model

Eschewing the traditional iBuyer model and standard brokerage operations, Huspy employs a lean, network-based strategy. By empowering freelance agents with cutting-edge CRM tools, transaction support, and integrated mortgage products, offloading the need for inventory ownership, the startup mimics the efficiency of on-demand platforms like Uber for real estate. This model has enabled Huspy to capture significant market share—in fact, it reached a 30% penetration in the UAE mortgage market within just three years.

Strategic Investment in Growth and Innovation

The recent Series B round, led by Balderton Capital and totaling $59 million, signifies robust investor confidence in Huspy’s ability to scale further. With a track record of over 25,000 home purchases facilitated and more than 10x revenue growth since 2022, Huspy is well poised to expand operations in Saudi Arabia and continue its European rollout. As digital disruption continues to reshape the proptech industry amid rising interest rates and competitive challenges in sectors like U.S. real estate, Huspy’s AI-driven tools for brokers and agents are setting a new benchmark for operational excellence.

The Road Ahead

Looking to the future, Huspy intends to advance its expansion into major cities across Europe and the Middle East within the next four years. By targeting mid-sized urban centers with high transaction volumes and limited agent efficiency, the company plans to reinforce its market dominance and further optimize its digital mortgage distribution. With a well-honed strategy and a scalable business model, Huspy appears uniquely positioned to sustain its momentum in an increasingly competitive proptech landscape.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

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