Huspy, a UAE-born proptech startup that wants to liberate humans from the tyrannical grip of real estate paperwork, has raised $59 million in a Series B round to expand its “Uber-for-homes” model across Europe and the Middle East.

The funding round was led by existing investor Balderton Capital, with participation from a cast of venture capital’s usual suspects, including Founders Fund, Peak XV Partners (formerly known as Sequoia India and SEA), ExBorder Partners, and a few firms that sound like artisanal coffee blends—Turmeric Capital, COTU Ventures, BY Ventures, Dara Management, and KE Partners.

For the uninitiated, Huspy started in 2020 after founder Jad Antoun had the uniquely Kafkaesque experience of trying to get a mortgage in Dubai and decided enough was enough.

Rather than crying into a stack of mortgage forms, he built a platform that now lets people find homes and financing digitally, without the soul-crushing bureaucracy that plagues traditional systems.

The result?

Within just three years, Huspy claims it owns a whopping 30% of the UAE’s mortgage market and 25% in Dubai—arguably one of the world’s hottest real estate scenes where luxury penthouses sell faster than you can say “interest rate hike.”

Apparently, this was enough of a resume to take the show on the road.

In 2022, Huspy tiptoed into Spain, one of Europe’s most fractured real estate ecosystems, home to over 100,000 agents flailing around like headless chickens.

Rather than joining the chaos as a traditional brokerage or buying up inventory like Opendoor, Huspy stuck to a low-overhead model: think Uber drivers, but replace cars with freelancers hawking apartments.

Freelance agents use Huspy’s platform to grab leads from big property marketplaces like Property Finder and Idealista, then manage deals with built-in CRM tools, transaction support, and mortgage offerings, all tied up in a neat little fintech bow.

In other words, it’s disruption on demand—without needing to own a single piece of property.

Huspy’s top brass insists that this isn’t just techy smoke and mirrors.

They say it’s a “repeatable playbook” that lets them infiltrate cities with high transaction volume and terrible agent productivity, onboard high-performers, and lock in juicy banking deals to power mortgages.

Antoun, previously part of Beco Capital’s investment team, and his co-pilot Ziad Nassar, now deputy CEO and European expansion overlord, claim this strategy is what vaulted Huspy into the top three real estate platforms in Valencia within a year.

The company now operates in six Spanish cities and reports a dazzling 20x year-on-year growth.

“Good luck catching up,” Antoun told TechCrunch with the breezy confidence of someone who’s read every startup victory blog post ever written.

He also claimed competitors would struggle to match Huspy’s mortgage product and operational efficiency, especially across both the UAE and Spain.

Whether this is confidence or delusion remains to be seen, but with over 25,000 customers served and $7 billion in facilitated transactions, the numbers are leaning in his favor.

And yes, that revenue has grown more than 10x since 2022.

The company earns its keep through commissions and success fees paid by agents and banks, which—let’s be honest—is a lot more scalable than taking on the risk of buying and flipping homes à la Compass or Opendoor.

Those models, by the way, have spent the past few years hemorrhaging money while trying to stay relevant in a world of rising interest rates.

In a sector that’s been brutally unforgiving to overhyped proptech dreams, Huspy’s trajectory is either a beacon of hope or a very stylish Icarus.

But Huspy isn’t flying solo in this Middle Eastern proptech renaissance.

Egypt’s Nawy also raised a sizable round this year, suggesting the region might finally be having its digital real estate glow-up.

By the end of 2025, Huspy plans to be live in over 10 cities and is eyeing most major European hubs over the next four years.

Because clearly, if there’s one thing this world needs, it’s fewer real estate agents buried in Excel sheets and more startups pretending to be Uber—but for homes.