Colombia-based iBuying company Habi has agreed a $6.3 million U.S. credit line with Bancóldex, Bloomberg Línea reports. The latter is a state-owned commercial bank that supports entrepreneurial development in Colombia, as well as fostering exports.

Founded in 2019, Habi was valued at more than $1.0 billion in a funding round last year. It digitizes and streamlines the process of buying and selling property. After buying and renovating them, Habi sells them in 45 to 60 days.

Bancóldex president Javier Díaz Fajardo said the credit line would enable Habi to increase it participation in the affordable housing sector.

Habi will spend more than $250 million on Homes in the coming months, according to Bloomberg Línea.

Bloomberg Línea also reports that Habi is working towards an IPO, possibly as soon as next year: Habi chief financial officer (CFO) Marcos Kantt told Bloomberg Línea that although this was not an immediate priority, it was a serious possibility.

With this in mind, the company was striving to adopt global standards for public companies, the CFO added. As a result, Habi is focused on operating in the most transparent way, with the required internal controls, according to Kantt.

“This process has intensified in the last six months. Ernst &Young is auditing our financial statements. We are closing an important credit line with a multilateral bank to be announced soon.”

“This institution will be auditing us from an Environmental Social and Governance point of view; thus, we are already working as a public company. We are not there yet, we are working to get there in the coming quarters.”




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