News Tech News

Chilean proptech startup Houm raises $35M Series A to expand across LatAm – FiratNews

Chilean proptech startup Houm raises $35M Series A to expand across LatAm – TechCrunch

Lower than six months after elevating $8 million in seed funding, Chilean proptech startup Houm has raised $35 million in a Sequence A spherical led by Silicon Valley enterprise capital agency Goodwater Capital.

Fifth Wall additionally participated within the financing, together with current backers OneVC, Elad Gil, Liu Jang and new traders Fen Ventures, Broadhaven and Rahul Mehta, managing companion at DST World. With the newest spherical, Houm has raised a complete of $45 million since its inception.

Santiago-based Houm plans to make use of the brand new capital principally to develop to fifteen new cities throughout Mexico, Colombia and Chile — the three nations through which it at the moment operates — in addition to to triple its present headcount of 350.

The startup had used its seed capital to develop and consolidate in Bogota, Colombia, and Mexico Metropolis. (It started operations in Bogota in mid-2020 and in Mexico Metropolis in January 2021.) Houm has seen its income develop by over 11x within the final 12 months, a metric that exceeded its personal expectations, though it didn’t reveal onerous income figures. The corporate will not be but worthwhile as it’s at the moment targeted on development.

Houm presents a web-based service that helps householders hire and promote properties “as much as 10 instances quicker,” it claims, than conventional strategies. Moderately than utilizing realtors, it depends on “Houmers,” self-employed professionals who put together properties on the market or lease, after which handle them. Houmers earn money every time a house they labored on is bought or rented.

CEO Benjamin Labra, who co-founded the startup with COO Nicolás Knockaert, mentioned Houm’s final objective is to “change into the main digital brokerage” in Latin America and provides individuals an inexpensive different to leasing, promoting and managing properties on-line. Its mannequin is much like that of Brazilian unicorn QuintoAndar, which has additionally raised vital capital this 12 months.

“Ninety-five % of our properties are leased in 30 days or much less, and our freelance pressure, the Houmers, enable us to point out properties each six minutes every single day,” Labra mentioned.

Houm presents companies to each landlords and tenants. When a property proprietor decides to place his or property up for hire or sale, Houm commissions a Houmer to take skilled images and movies, for gratis to the proprietor. The Houmers additionally examine the home or residence in order that potential purchasers can really feel safer of their selections. 

The properties are then revealed on actual property on-line marketplaces inside 24 hours. Houm additionally invests in digital advertising and marketing, in an effort to offer larger visibility and entry to prospects. As soon as the property is revealed, Houm supplies excursions to potential renters of patrons, both just about or in individual.

The startup additionally developed an AI algorithm referred to as ReV, which permits purchasers and homeowners to immediately know the optimum rental or sale worth of any property primarily based on different comparable properties within the space they’re contemplating. 

As potential tenants make presents, Houm performs a background examine on the candidates and presents the choices to the homeowners. After that, the corporate creates a digital contract to all events concerned.

“Houm is the one and largest proptech within the Spanish-speaking LatAm doing leases, gross sales and property administration,” Labra informed FiratNews. “As a result of there isn’t any MLS and no exclusivity in the actual property trade in LatAm, having its large freelance pressure within the floor permits Houm to be quicker and win the offers.”

 The pandemic, he mentioned, accelerated by “a few years” the follow of utilizing the web to hire and promote properties. 

“It was very useful for us due that now we have a web-based end-to-end course of and other people will at all times want a house, so we offered the service that they have been in search of,” Labra mentioned. “We had an vital tailwind that helped our development to rocket earlier than anticipated, and this follow is right here to remain.”

Hatim Khety, companion at Goodwater Capital, famous that dwelling seekers in Latin America have been underserved for a while.

“With Houm’s seamless search expertise and digital closing course of, the corporate is pioneering a client expertise that’s considerably higher than the established order,” he wrote through e mail. “Landlords equally love Houm’s end-to-end know-how platform for pricing, itemizing, and managing their properties, driving shorter vacancies and larger rental revenue. We’re thrilled to be partnering with Benjamín and the whole Houm workforce on their journey to extend housing accessibility throughout Latin America.”

About the author


Add Comment

Click here to post a comment