Colombian Proptech Habi Acquires OKOL and Grows Operations in Mexico

Don’t worry, we speak :
Español (Spanish), too!

The amount of the transaction was not disclosed. However, with this new acquisition, Colombian proptech Habi will expand its operations in Mexico. This is because OKOL owns two of the largest real estate portals in the country: Propiedades.com and Tu Cantón,

Habi’s new purchase has led the company to project a 10x growth, reaching US$1 billion in sales during 2022.

Habi and Its Expansion in Mexico

The Colombian company was born in 2019 and was founded by Brynne McNulty Rojas and Sebastián Noguera. Since then, it has the support of investors such as Tiger Global, Softbank and Inspired Capital, thanks to which they have raised capital of US$115 million; their latest raise was a Series B for US$100 million last June, led by the Japanese fund. 

By the end of 2021, Habi started operations in Mexico City, creating 130 new jobs.

However, after buying OKOL (which is also their first acquisition), the company will have around 400 people and presence in 10 Mexican states (State of Mexico, Jalisco, Quintana Roo, Yucatan, Puebla, Nuevo Leon, San Luis Potosi, Guanajuato, Queretaro, and Veracruz), as well as a potential market of 35 million people.

In this way, proptech is gaining ground in Latin America, whose real estate sector is expected to have great growth potential in 2022.

Habi has developed algorithms to evaluate properties. They acquire the properties, remodel them and offer them for sale online at competitive prices. In Colombia they have bought 1,200 properties and it takes them about 45 days to sell them.

Their plan in Mexico does not change much, except that proptech will also seek to position Propiedades.com as the largest real estate portal in Mexico.

You may also be interested in: How proptechs in Latin America are changing the real estate game