Bogotá, Colombia-based Habi, a data-driven real estate company, has secured $10 million in Series A funding. Inspired Capital led the round with participation from other investors that included 8VC, Clocktower, Homebrew, Zigg, and Vine Ventures.
BOGOTÁ, COLOMBIA (August 26, 2020) – Habi, the Bogotá-based, data-driven real estate company, has raised a $10MM series A led by Inspired Capital, alongside 8VC, Clocktower, Homebrew, Zigg, and Vine Ventures. The round also includes top industry operators such as Operator Partners (the investment group that includes Zach Weinberg and Nat Turner of Flatiron Health), and the founders of Looker. With this funding, Habi will continue to accelerate its transformation of the $10 trillion Spanish Latin American real estate market for middle-class consumers.
Since Habi’s launch in fall 2019, Habi has scaled rapidly, positioning itself as Colombia’s largest homebuyer. By establishing data partnerships with Colombia’s leading real estate, financial, and government institutions, Habi is centralizing formerly disparate—and often offline—information to build the most comprehensive data asset in the country. Habi uses this data to create automated pricing technology, which allows them to buy, renovate, and sell homes more efficiently.
“At Habi, we are united by our mission to empower middle-class residential sellers, buyers, and owners in the most significant financial decision of their lives,” says Brynne McNulty Rojas, Co-Founder and CEO of Habi. “Before Habi, access to real estate information was fragmented and liquidity was hard to come by, with an average time on market of 14 months. Our technology—a proprietary database, pricing algorithm, and smart platform—has instantly modernized the process, and we are selling houses over three times faster than the market.”
Habi currently covers all of Bogotá, which represents 2.5MM households, and is announcing its expansion into Medellin this month. Bogotá has been under a strict lockdown during Covid, which only emphasized the advantage of Habi’s tech-driven, low-contact model. Habi’s clear value to both homebuyers and sellers helped increase transaction volume by 3x since March.
“Our unparalleled access to information and the team’s success in building powerful analytics have enabled us to create a remarkably accurate automated pricing model in under nine short months,” says Sebastian Noguera, Co-Founder and President of Habi. “As we expand into Medellin and set our sights across the Latin American real estate market more broadly, we believe that our data-centric platform will be critical in our ability to deliver better experiences for all stakeholders.”
“Habi is bringing a beautiful tech solution to the complex and opaque process of homebuying in Latin America. We are incredibly impressed not only by Brynne and Sebastian, but also by the compelling signals that they are delivering a best-in-class real estate experience out of the gate,” says Alexa von Tobel, Partner at Inspired Capital and Board Member at Habi. “They are transforming the lives of middle class families for the better, and in doing so redefining the status quo of the LatAm real estate market.”
Habi is a data-driven real estate company dedicated to simplifying the homeownership lifecycle throughout Latin America. Using a proprietary pricing algorithm and scalable processes, Habi helps middle-class customers buy and sell their homes quicker and more efficiently, without the uncertainty of traditional real estate transactions. Based in Bogotá, the company’s mission is to empower middle-class residential sellers, buyers and owners across the Latin American ecosystem. More information is available at https://habi.co/.