Mortgage

Dubai proptech Huspy acquires Home Matters to create hybrid mortgage powerhouse

Stock - Huspy (fintech)
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Stock - Huspy (fintech)

Huspy is one of the few mortgage-focused FinTech companies that is gaining momentum in the UAE property market. And her acquisition of Home Matters gives her even more weight.
Image Credit: Supplied

Dubai: Dubai-based proptech startup Huspy has bought Home Matters to create a digital home finance platform. Prior to the deal – the size of which was not disclosed – Home Matters, launched in 2006, was “the second largest mortgage broker in the UAE”.

The combined entity will oversee a $1 billion real estate portfolio and a workforce of 150 members. Promoters expect potential homeowners to start the financing process within 15 minutes with access to several lenders, “resulting in time and cost savings.”

“Huspy (launched in 2020) will leverage Home Matters’ decade-long experience, creating incredible opportunities and impact for us alike,” said Huspy co-founder and CEO, Jad Anton. Sawan Karia and Danielle Le Muellego of Home Matters will join the Huspy leadership team and will be based in the UAE.

Stocks - Sawan Carré and Gad Anton (right)

Soan Karia of Home Matters and Jad Anton of Huspy (right) timed the deal at a time when foreclosure-based real estate transactions exceeded 60%.
Image Credit: Supplied

Last year, Huspy bred one of the largest seed rounds ever in the area. Huspy COTU investors include Ventures, Venture Friends, Venture Souq, Breyer Capital, B&Y, and a number of family offices.

The new “first digital platform” will provide real-time advice to home buyers, as more end users sign up to buy property in the UAE. The Huspy platform will also provide partners with “full visibility” of their customer pipeline, allowing them to manage their own portfolio of issues.

“Huspy’s technological knowledge and ambition combined with Huspy’s expertise, knowledge and goodwill form an ideal partnership to improve and serve the mortgage market in the UAE,” said Sawan Kariya, General Manager of Home Matters. “In the coming weeks, we look forward to adopting best practices from both organizations to create an unparalleled customer experience.”

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