Habi, the data-driven residential platform, today announced the acquisition of OKOL, the parent company of Mexican marketplace Propiedades.com and the broker and iBuyer Tu Canton. The strategic investment secures Habi's position as the leading real estate technology company in Spanish-speaking Latin America, and accelerates its move into Mexico.
The residential listing portal Propiedades.com is the national leader in inventory volume, with over 1 million currently listed properties and over 1.4 million average monthly users. Propiedades.com brings technological infrastructure and data centralization to residential real estate in Mexico to make buying, selling and comparing homes easier. The highly established brokerage Tu Canton holds the largest housing inventory in the country, and facilitates the buying and selling of residential assets in addition to operating an exponentially growing iBuying business. Together, they possess unmatched commercial force, with nearly a decade of experience in the Mexican market and a presence in 10 states. The now-integrated companies present clients with the seamless ease of a centralized platform alongside the localized services of a broker.
"The Mexican and Colombian housing markets are different in many ways, but they share the problems Habi was created to solve: inefficiency, a lack of transparency, and an absence of trust. Habi's goal is to completely change that," said President and Co-founder Sebastian Noguera. "We are extremely excited to partner with these national powerhouses. Combining our platforms will deliver the best possible service for clients in Mexico and across Latin America."
"This integration is a natural extension not just of our geographic footprint and suite of offerings, but of our mission to give middle-class families in Latin America better information and a faster, more painless process," said CEO and co-founder Brynne McNulty Rojas. "We look forward to working with our growing and talented team. Together, we're now offering 35 million Mexicans a full suite of tech-enabled services for housing, giving them more freedom and control over the biggest financial decision of their lives."
At the core of Habi's services is its iBuying tool. Leveraging its robust proprietary database, Habi's pricing model provides valuations, home cash offers and financial products quickly and automatically, saving clients time?often months?and ultimately granting them freedom of movement and access to their wealth. The platform has developed its own proprietary MLS that synthesizes everything from location, to property size, to number of parking spots, to whether the building has an elevator, and many other factors.
Habi's unique model and groundbreaking success in Latin America, along with its experienced and innovative leadership team, has allowed it to secure unprecedented early funding from top global investors. Last summer, the company announced a historic $100 million Series B funding round, led by SoftBank Latin America Fund, alongside previous investors including Inspired Capital, Tiger Global, Homebrew and 8VC.
Founded in 2019, Habi is a data-driven real estate company that is streamlining the traditionally opaque homebuying/selling and financing process in Latin America. Using a proprietary pricing algorithm and scalable processes, Habi is unlocking access to liquidity and information for hundreds of millions of Latin Americans; saving customers time, granting freedom of movement and giving them access to their wealth. Habi also helps brokers and banks make more informed decisions. The main company's goal is to empower Latin American families in the most important decision of their lives: their home.