Colombian proptech company Habi has received a $50 million USD line of credit from Inter-American Development Bank (IDB) investment arm IDB Invest in an arrangement that it is expected to use to scale up operations in Mexico.
After securing what IDB Invest stated is its largest investment in a proptech company to date, the Bogotá-based startup — which offers a platform to provides users with access to information including property valuations, real estate listings, and financing options — noted that it has now attracted nearly $500 million USD in financial resources over the past 12 months.
Habi characterized this arrangement as a significant milestone that will help grow operations as it attempts to help reduce the housing deficit in the region while contributing to the employment of local contractors for property renovation and the company’s network of agents.
“To date, we have positively impacted the lives of more than 30,000 families in the region who have sold or purchased their homes through our platform,” said Sebastian Noguera, president and co-founder of Habi, in a statement. “With the support of IDB Invest, we will continue to work so that any Colombian who wants to buy or sell a home can do so in an agile, reliable, and secure way.”
IDB Invest, which is the largest multilateral development bank in Latin America, highlighted its desire to support Habi’s inclusion and innovation strategies while noting that it expects the deal to contribute to the United Nations’ Sustainable Development Goals related to sustainable cities and economic growth.
“Habi’s technology is helping to make the market more transparent and efficient, and it is also helping to reduce the environmental impact of homeownership,” said Sergio Fajardo, CEO of IDB Invest.
Photo: Habi leadership team members Sebastián Noguera (president and co-founder), Brynne McNulty Rojas (CEO and co-founder), and Marcos Kantt (CFO). (Credit: Habi)