Spanish online real estate agency Housfy.com has raised €6 million ($6.8 million U.S.). The capital came from New York firm Torch Capital; British fund DN Capital (also a PurpleBricks.co.uk investor); French-Chinese Cathay Capital (whose investments include Glovo); and Spanish venture capital fund Seaya Ventures.
Housfy launched in Italy at the end of 2018. The new funds will support its international expansion — likely into France and Portugal, according to Spanish newspaper La Informacion — as well as improving its technology.
Housfy was inspired by PurpleBricks and founded in 2017 by Albert Bosch and Miquel Mora. It offers online tools and services to help owners sell their homes. These include property valuations, marketing plans, and classified advertising on portals like Idealista.com and Fotocasa.es.
Owners are responsible for arranging viewings and receiving offers. Once an offer is accepted, Housfy helps administer the legal and financial details, including drawing up documents, helping the buyer find a mortgage, and attending the signing.
In March 2019, Housfy became one of the top five real estate portals in Spain by sales volume. It’s selling more than 100 properties a month and growing by 20 percent every month.
La Informacion reported that Housfy had revenue of €1.5 million ($1.7 million U.S.) in the last financial year, with about equal losses — according to company figures. In 2017, it recorded €183,000 in turnover with losses of €400,000.