Huspy, a UAE-based proptech company, has secured $59 million in funding to expand its operations in Europe. This significant investment brings the total amount raised by the company to $75 million since its inception.
According to reports, Huspy’s platform uses machine learning algorithms and data analytics to streamline property management processes, reducing costs and increasing efficiency for landlords and tenants alike. The company claims that its technology can save up to 30% of operational costs in the real estate sector.
With this new funding, Huspy plans to scale its operations in Europe, targeting major cities such as London, Berlin, and Paris. The company aims to expand its team by 50% over the next year, with a focus on hiring experts in data science and property management.
The proptech industry has seen significant growth in recent years, with investments reaching $1.5 billion in 2020 alone. Huspy’s success is a testament to the increasing demand for innovative solutions in the real estate sector.
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