Dubai-based proptech start-up Huspy has acquired two mortgage brokerages – Simply Mortgage and Finance Lab – for undisclosed sums.
Huspy acquires Simply Mortgages and Finance Lab
The founders and staff of each corporations will be a part of Huspy upon completion of the offers.
Simply Mortgages was established in 2018 by Ramesh Khemani to supply mortgage and property transaction session providers.
Finance Lab was based in 2020 by Manish Bhagnari, a monetary providers veteran with 20 years of banking expertise. The corporate helps property financing by means of a community of banking partnerships throughout the UAE.
Bhagnari says the agency has been “working intently with Huspy for the previous 18 months” and the acquisition will “enable us to additional speed up our enterprise and add extra worth to our shoppers and companions”.
The 2 offers comply with Huspy’s acquisition of Residence Issues in January this 12 months.
Huspy says the brand new additions will allow the corporate to meet its mission of “bettering the house shopping for ecosystem within the area”.
Addressing the acquisitions, Ankit Shah, Huspy’s head of M&A, mortgages UAE, says the 2 corporations are a “cultural match for Huspy’s values” and the additions will “create additional advantages for dwelling patrons within the UAE”.
Launched in 2020, Huspy supplies a single platform for patrons to seek out and finance their houses. In June 2022, the corporate raised $37 million in its Sequence A funding spherical.