Latam 'property tech' startup La Haus to build up digital infrastructure

StepStone

24/05/2023 22:20

By Kylie Madry
       MEXICO CITY, May 24 (Reuters) - Riding off its latest
funding round, Latin American "property tech" startup La Haus is
looking to strengthen its digital muscle and improve its online
infrastructure for home buyers, a company executive told Reuters
on Wednesday.
    The company, founded in Colombia but now focused mainly on
Mexico's real estate sector, is a marketplace for new
developments. The firm raised $62 million last year in a
previously unannounced Series C funding round, said Chief
Executive Jeronimo Uribe.
    Investors included Kaszek Ventures, NFX, Acrew Capital,
StepStone Group Inc  STEP.O , Bezos Expeditions and Next Play
Capital, added Uribe. Several backers, such as Kaszek, are
repeat funders.
    The funds have gone toward ramping up digitalization for
home purchases through the platform, said Uribe.
    Home buying in countries like Mexico and Colombia can be
difficult, with sales dragging on as paperwork and red tape
tangle the process.
    "It's hard to know who you're buying from, what the
property's legal history is; if it's clean," Uribe said,
referring to details his company's products aim to confirm. 
    In both countries, irregular constructions are also common. 
    The firm is increasingly moving to offer more "verified"
options on its site, though it also advertises other
developments for comparison, said Uribe.
    In recent months, the startup market has grown bumpy in the
region, with some firms opting instead to finance growth with
debt, and others forced to forego additional funding rounds. 
    "It's a difficult environment," Uribe said. "We're fortunate
to have a runway a few years out, so we're able to focus
completely on building value for our users."
    Uribe added he expects the company to turn a profit within
the next 24 months.
    Uribe did not rule out future financing rounds, or even
possible public listing, but said La Haus was focused on "owning
its own destiny, without depending on" external funds.

 (Reporting by Kylie Madry in Mexico City Editing by David Alire
Garcia and Matthew Lewis)
 ((Kylie.Madry@thomsonreuters.com;))