Barcelona-based IBuying firm and hybrid real estate agency Housfy has raised €30 million ($31.4 million U.S.) in a series B funding round led by U.K.-based Frog Capital. Other investors that participated in the round included A/O Proptech, Banco Santander, DN Capital, Seaya Ventures, Aldea Ventures and the Institut Català de Finances–all previous investors, with the exception of A/O Proptech.
“This round allows us to promote the growth of the ecosystem of services that we are building, giving us the ability to open and scale different businesses that, connected to each other, help us offer a better user experience,” said Albert Bosch, founder and CEO of Housfy (LinkedIn profile).
This ecosystem now includes a home renovation service, and Housfy is also planning to launch a “buy to rent” service. This will consist of managing both the purchasing and rental of a property for those seeking a convenient way to invest in property.
In an interview with newspaper La Vanguardia, Bosch said, “We started as intermediaries in the sale of real estate with hardly any commissions and, over the years, we have been adding different services. Especially noteworthy is the mortgage management division.”
Founded in 2016, Housfy more than doubled its turnover during 2021, from €6.2 million in 2020 to €15 million, and it is aiming to reach €43 million this year. The company is planning to spend €10 million to open 20 offices across Spain by 2024, as it pivots towards a hybrid model of digital and physical sales. It opened the first of these stores in Barcelona earlier this year. Apart from Spain, Housfy also has operations in neighboring Portugal.