Columbia based property startup Habi secured an investment of US$ 10M on 28 Aug 2020. So far, Habi has raised around US$ 15.5M in total investments.
The funding round was led by Inspired Capital. Moreover, other participants in the round were some of the top investment firms including Vine Ventures, 8VC, Homebrew, Clock Tower and Zigg.
The coronavirus pandemic hasn’t affected Habi much, rather it has scaled rapidly. Its transactions have increased threefold since March. The new funds will be utilized to grow further and expand to other Latin American countries. Currently, their operations are limited to Columbia. Habi controls majority of the property market in there since they have virtually no competition.
Headquarterd in Bogotá, Distrito Especial, Habi was founded 2019 by Brynne Rojas, Sebastian Noguera Escallón in 2019. Also, it is a technology-driven real estate company that helps middle-class customers buy and sell their homes quickly.
When Brynne McNulty Rojas moved to Columbia 4 years back, she noticed that the fragmented real estate lacked a database for individuals to find and compare homes. This grave problem inspired her to start Habi. Rojas and her business partner Sebastian Noguera Escallón built a centralized database of residential real estate prices and trends. So, this database was used to create an automated pricing algorithm which helped in buying and selling homes quickly.
Habi buys, renovates and sells homes. It generates revenue off the margin. It also provides a tool for sellers that helps them estimate the value of their homes. According to Rojas, one of the many reasons for their growth is their reliance on data, which has enabled them to make guided and informed decisions.
Habi currently covers all of Bogotá. It is planning to use the funds to expand to Medellin this month. The founders wish to make Habi a “one-stop shop for everything related to the home,” said Rojas. In the long term, they are also looking towards diversifying their platform to include furnishings, storage, and logistics.
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