By Kylie Madry
MEXICO CITY (Reuters) – Driving off its newest funding spherical, Latin American “property tech” startup La Haus is seeking to strengthen its digital muscle and enhance its on-line infrastructure for residence patrons, an organization government advised Reuters on Wednesday.
The corporate, based in Colombia however now centered primarily on Mexico’s actual property sector, is a market for brand new developments. The agency raised $62 million final yr in a beforehand unannounced Sequence C funding spherical, mentioned Chief Govt Jeronimo Uribe.
Buyers included Kaszek Ventures, NFX, Acrew Capital, StepStone Group Inc, Bezos Expeditions and Subsequent Play Capital, added Uribe. A number of backers, equivalent to Kaszek, are repeat funders.
The funds have gone towards ramping up digitalization for residence purchases by means of the platform, mentioned Uribe.
House shopping for in nations like Mexico and Colombia could be troublesome, with gross sales dragging on as paperwork and crimson tape tangle the method.
“It is onerous to know who you are shopping for from, what the property’s authorized historical past is; if it is clear,” Uribe mentioned, referring to particulars his firm’s merchandise goal to substantiate.
In each nations, irregular constructions are additionally frequent.
The agency is more and more shifting to supply extra “verified” choices on its web site, although it additionally advertises different developments for comparability, mentioned Uribe.
In current months, the startup market has grown bumpy within the area, with some corporations opting as a substitute to finance progress with debt, and others compelled to forego extra funding rounds.
“It is a troublesome setting,” Uribe mentioned. “We’re lucky to have a runway a number of years out, so we’re in a position to focus utterly on constructing worth for our customers.”
Uribe added he expects the corporate to show a revenue inside the subsequent 24 months.
Uribe didn’t rule out future financing rounds, and even potential public itemizing, however mentioned La Haus was centered on “proudly owning its personal future, with out relying on” exterior funds.
(Reporting by Kylie Madry in Mexico Metropolis Enhancing by David Alire Garcia and Matthew Lewis)
