La Haus Grows Nearly 10x In Mexico; Expands Series B To $135mm

Series B follow-on co-led by Acrew Capital and Renegade Partners; New funding enables financial solutions to help meet soaring demand for new housing
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MEXICO CITY, July 29, 2021 /PRNewswire/ --  La Haus , the proptech market leader in Mexico and Colombia that enables 100 percent online transactions, today announced it has raised $50 million in a Series B follow-on co-led by Acrew Capital and Renegade Partners. In addition, the company secured $50 million in debt funding. The round brings the company's total Series B funding to $135 million and cements the company's leadership in Spanish-speaking Latam.

The funding expansion was driven by exponential growth in Mexico, where transactions grew almost 10 times from Q2 2020 to Q2 2021. La Haus expects to achieve more than $1 billion in annualized gross sales by the end of the year. Selling more than 500 homes per month, La Haus is the market leader in Spanish-speaking Latam by an order of magnitude.

Also investing in this round are Jeff Bezos' Bezos Expeditions, Endeavor Catalyst, Moore Strategic Ventures, Marc Benioff's TIME Ventures, Rappi's Simon Borrero, Maluma, and Gabriel Gilinski. Past investors also participating in this round include Greenspring Associates, Kaszek, NFX, Spencer Rascoff's 75 & Sunny Ventures, Hadi Partovi and NuBank's David Velez. Acrew Capital has also invested in past rounds.

New funding will be used to fuel geographic expansion and introduce financing solutions to help solve housing inequalityBy the end of 2021, La Haus will be in every major metropolitan area in Mexico and Colombia.

La Haus will leverage its debt funding and proprietary data to accelerate its business —  and to help solve Latam's extreme housing inequality. In the region, more than 100 million people live in informal housing like slums and favelas. In the emerging world at large, 1 billion people live in informal housing [1] .

The need for new housing in Latam and other emerging markets is acute. The pace of building new homes is slow because small- and mid-sized developers —  who build 80 percent of new homes in Latam —  are cash constrained. Additionally, mortgages are largely unaffordable for consumers, with banks extending only a fraction of the credit to individuals compared to the U.S., and often at worse terms.

La Haus is already Spanish-speaking Latam's leader in selling new housing —  a $70 billion per year market today, with the potential to grow to a $200 billion per year market if financing is made more accessible. The company has partnerships with significant developers like Mexico-based Arquitectoma, GDC Desarrollos, CLASS, Punto Destino, Yukon, and Terraforma, who leverage La Haus' platform and audience to enable seamless 100-percent online transactions.

With the new debt funding and its one-of-a-kind, proprietary data gleaned from thousands of real estate transactions, La Haus is now positioned to extend capital to developers and consumers more quickly, with much lower risk and at better terms. The company has rolled out financing programs that it expects to catalyze growth in H2 2021 and beyond. Over time, La Haus will enable more new, sustainable homes to be built faster, alleviating the inequality caused by lack of access to inventory.

La Haus employs home-grown innovations to solve the region's housing challenges"We are so grateful that our international investors recognize the transformative impact La Haus is having on the unstructured residential markets of Latin America. We are tailoring our solutions specifically for the needs of Latam, bringing more transparency and higher productivity to the entire ecosystem," said La Haus co-founder and President Rodrigo Sánchez-Ríos. "Today we are bringing the pride of quality home ownership to Latin Americans. Longer term, our vision is to change the social structure of all emerging markets, in Latin America and beyond."

"La Haus is building a solution specific to the issues of Latin America's housing market —  not importing solutions from the U.S.," said Lauren Kolodny of Acrew Capital. "We were attracted to the team and the incredible opportunity ahead of La Haus. They have already become the number one platform in Mexico and Colombia, and this new capital will create a flywheel of supply and demand that will benefit both the business and society."

La Haus was founded by Jerónimo Uribe, CEO; Rodrigo Sánchez-Ríos, president; Tomás Uribe, Chief Growth Officer; and Santiago Garcia, CTO. Jerónimo Uribe and Tomas Uribe met Sánchez-Ríos at Stanford University, and prior to La Haus they started and ran Jaguar Capital, a Colombian real estate development company with over $350 million of completed retail and residential projects.

About La HausLa Haus is transforming the real estate industry in Latin America, bringing consumers an end-to-end marketplace aimed at addressing the many hardships home buyers and sellers face in Latin America. The company makes homeownership more accessible to many in Latin America where lack of infrastructure and access to transparent information can impede people's ability to buy homes. The company launched in 2017 and today operates property search portals lahaus.com in Colombia and lahaus.mx in Mexico  -- the first portals that ensure high-quality and de-duplicated listings -- and a brokerage that is facilitating more than $400 million in annualized gross transaction value.

La Haus operates in Mexico City, Guadalajara, Medellin and Bogota.

[1]  According to the United Nations. https://unstats.un.org/sdgs/report/2019/goal-11/

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SOURCE La Haus