Colombia-based Habi has secured $200 million U.S. of equity in its Series C funding round, making it the first proptech “unicorn” in Spanish-speaking Latin America, the company has announced.

Habi will use the investment to continue to expand to other major cities across the region and increase its offering, with a focus on embedded financial services.

The Bogotá-based startup has developed a suite of valuation, transaction and financing products. It has expanded its range of services and proprietary database over the past year and now offers IBuyer, brokerage, marketplace and financial services.

The company targets low- and middle-income consumers, aiming to provide “access to liquidity and information in a market where data is limited and the majority of homes are not listed online.”

It posted over a 20-fold growth in revenue in 2021.

The proptech company is active in more than 15 cities in Mexico and Colombia

“We’re thrilled with the progress we’ve made in the short time since our last funding round,” said co-founder and CEO Brynne McNulty Rojas. The company’s Series B funding round was in June 2021.

“With strong partnerships and an expanded market presence, we are at the very early stages of building out the infrastructure to provide much-needed information, trust and liquidity to a housing market that desperately needs it — one we estimate at $2 trillion across cities in Spanish-speaking Latin America,” added the CEO.

The latest funding round was led by Homebrew and SoftBank Latin America Funds. Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte, Tiger Global, Inspired Capital, Clocktower Ventures, Endeavor Catalyst and Henry Kravis were among the other participants.

Satya Patel, managing partner of Homebrew, said, “Habi is revolutionizing the Latin American housing market by solving the many pain points that exist throughout the ecosystem. From day one, the company has transformed how consumers buy and sell homes.”

He added that Habi is now improving access to related financial products like mortgages, providing independent brokers with better access and tools to build their own businesses, and collaborating with financial institutions.

“We believe that by removing barriers between the growing middle class and a functioning housing market, Brynne, Sebastian [Noguera, co-founder and president] and the team at Habi could unlock generational wealth creation for all of Latin America,” said Patel.

Juan Franck, managing partner of the SoftBank Latin America Fund, added, “The Habi team has shown incredible discipline and execution expertise during a period of rapid expansion. This successful Series C is a clear example that there is significant investor appetite available for proven business models with strong unit economics and a clear path to profitability, even during the most difficult fundraising environment of the last 10 years.”

Habi plans to start a “strategic exclusive alliance” with Banorte to provide financial services across Mexico. In January, it announced its acquisition of online marketplace Propiedades.com and iBuyer Tu Canton, expanding its presence across the North American country.

It says it is the leading buyer and seller of previously-owned homes in Spanish-speaking Latin America and the prominent mortgage broker in Colombia.

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