- The founders and employees of both businesses will join Huspy and create further benefits for home buyers in the UAE.
The UAE-based proptech startup – Huspy – has acquired two mortgage brokerages –Just Mortgages and Finance Lab for an undisclosed amount.
The two deals follow Huspy’s acquisition of Home Matters in January this year.
The founders and employees of both businesses will join Huspy to enhance the processes of getting a mortgage with technology as well as provide home buyers with market-leading financing offers.
The acquisition follows as the UAE’s property market continues to witness record-breaking demand with 25 per cent increase in sales in the second quarter of this year.
“The addition of these two businesses will create further benefits for home buyers in the UAE and build on the experience that Huspy is recognised for. We look forward to partnering with more like-minded market players in the future,” Ankit Shah, Head of M&A, Mortgages UAE at Huspy, said.
Consolidation
Joining Huspy is a dream come true, Ramesh Khemani, founder of Just Mortgages, said
“Together, we can scale and achieve better results for the clients and partners,” he said.
Manish Bhagnari, CEO and Founder of Finance Lab, said that his banking experience across various functions and roles has helped build the foundation.
“We’ve been working closely with Huspy for the past 18 months and have witnessed phenomenal growth. This partnership will more value to our clients and partners. I’m certain that this deal will help other market players initiate the discussion for consolidation and provide further confidence to partner with Huspy.”