Colombian proptech Habi reaches unicorn status with $200M raise co-led by SoftBank and Homebrew

·2 min read

Habi, a Bogota-based proptech, has closed on $200 million in a Series C funding round co-led by Homebrew and SoftBank Latin America Fund.

The startup did not reveal its exact valuation, saying only it had reached unicorn status -- meaning that it is now valued at more than $1 billion.

The raise follows a year of strong growth, according to the company, which saw its revenue increase by “well over 20x” in 2021. With this latest raise, Habi says it has become the second unicorn in Colombia and the only LatAm unicorn with a female founder and CEO, according to Crunchbase. It also claims that it is now the first proptech unicorn in Spanish-speaking LatAm. Brazil -- where the population speaks Portuguese -- is home to more than one proptech unicorn, including QuintoAndar and Loft.

Habi says its mission is to “empower” low- and middle-income consumers in the housing sector by providing access to liquidity and information “in a market where data is limited and the majority of homes are not listed online.” The startup currently operates in more than 15 cities in Mexico and Colombia.

The company last raised in June of 2021 -- a $100 million Series B led by SoftBank Latin America Fund. Since its 2019 inception, Habi has brought in over $315 million in equity funding. Banco Mercantil del Norte SA, Institución de Banca Múltiple, Grupo Financiero Banorte, Tiger Global, Inspired Capital, Clocktower Ventures, Endeavor Catalyst and Henry Kravis participated in the latest financing, among others.

Over the past year, Habi says it has worked on building out its services and proprietary database, so that it can offer customers a full stack of services, including iBuyer, brokerage, financial services and a marketplace.

“With strong partnerships and an expanded market presence, we are at the very early stages of building out the infrastructure to provide much-needed information, trust and liquidity to a housing market that desperately needs it,” said Brynne McNulty Rojas, Habi’s co-founder and CEO, in a statement.

In January 2022, Habi announced its acquisition of online marketplace Propiedades.com and iBuyer Tu Canton as part of its effort to grow its presence across Mexico.

The company plans to use the new capital to expand geographically across Spanish-speaking LatAm and double down on its push into embedded financial services.

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