UAE-based proptech Huspy has acquired Home Matters, a mortgage consultancy for the UAE and UK markets.
The combined entity will manage over $1 billion in gross merchandise value annually and employ more than 150 people.
Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy is an online home financing broker, allowing its users to search and choose a mortgage. It claims to have achieved roughly 30 per cent month on month growth.
Founded in 2006 by Sawan Karia, UAE-based Home Matters was the second largest home mortgage broker in the country.
The acquisition is intended to bolster Huspy’s growth, offering its customers access to a large network of home financiers and lenders in the UAE. Huspy will continue to focus on customer and partner network growth and technology development, in addition to widening its geographic presence beyond the UAE and across Europe.
Huspy, the UAE headquartered proptech startup, has announced the acquisition of Home Matters, to create the country’s largest home financing platform. Founded in 2020, Huspy’s digital-first business has achieved ~30% month-on-month growth, to establish a market leading position. Prior to its acquisition, Home Matters was the second largest home mortgage broker in the UAE, having launched operations over 15 years ago. The combined entity will manage over US$ 1 billion in gross merchandise value annually and employ over 150 people, giving buyers a new way to finance their home.
The home mortgage market in Dubai has grown by 68 per cent between Q1 and Q3 2021, as a result of efforts across the value chain to simplify financing and accelerate market growth. Built to put customers in control of their home purchase, Huspy’s technology product for customers and lenders will underpin the combined business, and reimagine the entire home financing journey. With Huspy, acquiring a mortgage has been simplified, allowing customers to start the home financing process in 15 minutes, with access to a wide array of offers from multiple lenders, creating time and cost savings.
“Today we are excited to announce the acquisition of Home Matters and advance our mission to make home financing seamless and more accessible than ever before. Home Matters’ decade-long experience will benefit Huspy, creating incredible opportunities and impact for us both. This acquisition further strengthens the leadership position of both entities, and with our partner network across the real estate and financial services industries, we remain the trusted choice for customers buying their dream home,” said Jad Antoun, co-founder and CEO of Huspy.
Backed by mortgage industry veterans, Home Matters has an unparalleled track record in the UAE. Home Matters’ Sawan Karia and Daniel Le Moeligou will both join Huspy’s leadership team and will be based in the UAE. With a high focus on transparency and customer service, Home Matters’ customers will also benefit from an omnichannel offering, with access to an advanced technology platform, in addition to a wide team of industry experts.
“We are super thrilled to be part of a movement that will revolutionise the home financing customer experience. Huspy’s tech knowhow and ambition combined with Home Matters’ experience, knowledge and goodwill, forms a perfect partnership to improve and serve the UAE mortgage market. In the coming weeks, we look to adopt best practices from both organisations to create an unmatched customer experience,” said Sawan Karia, managing director of Home Matters.
Home Matters’ years of experience, customer base and partner network will bolster Huspy’s growth trajectory. Leveraging advances in technology, Huspy’s customers will also benefit from tailored recommendations and market-leading interest rates. Home Matters’ long-standing relationships with financial institutions will also provide customers exclusive rates, terms and discounts.
Huspy and Home Matters will together provide customers with access to the largest network of home financiers and lenders in the UAE. The digital-first platform will evolve customer experiences and provide real-time advice to home buyers. Huspy’s platform will also equip partners with complete visibility of their customer pipeline, allowing them to manage their portfolio of cases efficiently.
Following this acquisition Huspy will continue to focus on customer and partner network growth and technology development, in addition to widening its geographic presence beyond the UAE and across Europe.
In 2021, Huspy raised one of the largest seed rounds ever, in the MENA region. Huspy’s investors include COTU Ventures, Venture Friends, Venture Souq, Breyer Capital, B&Y and a number of family offices.