Colombian iBuyer Habi raises $100M in Softbank-led Series B

Fast-growing firm records largest funding round ever raised by a female-led Latin American company

National Weekend Edition /
Jun.June 27, 2021 09:00 AM
Habi cofounders Brynne McNulty Rojas and Sebastian Noguera Escallón (Habi)

Habi cofounders Brynne McNulty Rojas and Sebastian Noguera Escallón (Habi)

Colombia-based iBuyer Habi has raised $100 million in a Series B fundraising round led by Softbank.

It’s the second-largest amount ever raised in a Series B by a Colombian startup, according to Forbes. With CEO Brynne McNulty Rojas at Habi’s helm, it’s also the largest funding round raised by a female-led Latin American firm to date.

Softbank led the round through its Softbank Latin America Fund. Other investors included Series A participants Inspired Capital, Tiger Global, Homebrew and 8VC.

The firm operates in four of the country’s five largest cities — Bogotá, Medellín, Barranquilla and Cali, and intends to use the Series B funding in part to expand to Mexico, starting with Mexico City.

There are few online listing platforms operating in Colombia, which gives Habi an opportunity to establish itself as the primary option for buyers and sellers looking to make a deal online.

Like other iBuyers, Habi buys and flips homes for profit. It collects market data from various public and private partners to inform its pricing.

Habi also offers free home value estimates. The company said that 100,000 people have received estimates either through that tool or via home offers. The company also said transaction volume increased by an average of 40 percent each month from May 2020 to May 2021. The company went from a few dozen employees a year ago to around 300 today.

While the iBuyer model has been touted as revolutionary for the housing market, some of the largest iBuyers in the United States have lost money in recent years.

Opendoor and Zillow lost a combined $1.2 billion with their iBuyer operations in the last two years, including $607 million last year. Most have slightly varying business models.

[Forbes] — Dennis Lynch 






    Related Articles

    arrow_forward_ios
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    Guillermo Lasso and the Asia Brickell Key condo in Miami
    Ecuadorian president’s alleged Florida real estate ties raise questions
    Ecuadorian president’s alleged Florida real estate ties raise questions
    Miami Mayor Francis Suarez and SoftBank Group COO Marcelo Claure. (Getty)
    South Florida by the numbers: Big Tech and Wall Street head to South Florida
    South Florida by the numbers: Big Tech and Wall Street head to South Florida
    SoftBank Group COO Marcelo Claure and Mayor Francis Suarez (Getty; iStock)
    SoftBank to invest $100M in Miami startups
    SoftBank to invest $100M in Miami startups
    5212 North Bay Road in Miami Beach and Marcelo Claure (Getty)
    SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown
    SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown
    Daily Digest Miami
    Monroe County seeks $150M to combat sea level rise, Bloomberg’s record may polarize voters
    Monroe County seeks $150M to combat sea level rise, Bloomberg’s record may polarize voters
    Daily Digest Miami
    Compass sweetens agent stock program for 2020, affordable housing project in downtown Fort Lauderdale lands $27M loan: Daily digest
    Compass sweetens agent stock program for 2020, affordable housing project in downtown Fort Lauderdale lands $27M loan: Daily digest
    Daily Digest Miami
    Panattoni drops $24M to build new industrial project near Opa-locka, One Sotheby’s International Realty acquired Treasure Coast Sotheby’s: Daily digest
    Panattoni drops $24M to build new industrial project near Opa-locka, One Sotheby’s International Realty acquired Treasure Coast Sotheby’s: Daily digest
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...