MEXICO CITY, Dec 15 (Reuters) – Colombian property technology startup Tuhabi expects to double in size next year, betting particularly on growth in Mexico, the company said in a statement on Thursday.
The so-called unicorn, a startup valued at more than $1 billion, said it will budget more than $250 million to buy houses in Colombia and Mexico over the next few months.
Tuhabi allows sellers to sell their home online and receive payment within 10 days, speeding up the real estate landscape in two Latin American countries where sales can take more than a year to complete.
The company said it will grow fivefold by 2022, following a $200 million funding round in May and taking on $75 million in debt financing in June.
Since its founding in 2019, Tuhabi has bought or sold to more than 26,800 customers, the startup said Thursday. Tuhabi faces competition in Mexico from other proptechs such as Flat.mx and La Haus, which mainly deal with new properties.
Reporting by Kylie Madry; editing by Diane Craft
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