Mortgage Fintech Secures Funding, Eyes Expansion

Huspy, a UAE-based mortgage fintech, has secured $59 million in Series B funding, with participation from Balderton Capital, Peak XV, and others. The company plans to expand into Saudi Arabia this year and is actively hiring for expansion and technology roles. This funding will fuel Huspy's ambitious growth plans, aiming to establish a presence in most major European and Middle Eastern cities.

Huspy, already operating in the UAE and Spain, has facilitated over $7 billion in real estate transactions. In Spain, the company is active in several cities and plans to launch in six more by the end of the year. The company's mortgage unit is the largest in the UAE, handling over 25% of Dubai's residential home financing.

Co-founder and CEO Jad Antoun stated that the funding will allow the company to expand at a high growth rate. Huspy intends to launch operations across most major cities in Europe and the Middle East over the next four years.