Habi raises $10mto drive expansion in Latin America

habi

The Bogotá-based startup Habi has raised $10 million in a Series A round led by Inspired Capital, with participation from 8VC, Clocktower, Homebrew, Vine Ventures, and Zigg. The round included angel investments from Flatiron Health and Looker. The company has raised $15.5 million to date

 Habi, the property tech startup with a two-fold approach. The startup founders built a centralized database of residential real estate prices and trends essentially a multiple listing service and then used that information to create an automated pricing algorithm to buy and sell homes quickly and efficiently.

The company buys, renovates, and then sells homes, generating revenue off the margin. It also offers a tool that lets sellers estimate the value of their homes and a database that buyers can use to search for listings. The foundation of its business is its automated pricing technology, which was built using data from its real estate, financial, and government partners.

Since launching in fall 2019, Habi has scaled rapidly — and has even picked up speed during the city’s strict lockdown during the COVID-19 pandemic. Transaction volume has increased threefold since March, Rojas noted.

Rojas said its data-driven approach works, allowing the company to sell a home three times faster than the market average.

The founders also intend to eventually expand Habi’s services to become a “one-stop shop for everything related to the home,” Rojas said. In the long term, this might mean connecting consumers with moving, storage, furnishings and other services.

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