Key Highlights
- La Haus looking to Latin America with its new round of venture capital funding
- Company currently operates in Columbia and Mexico
- Company first targeting large cities such as Guadalajara and Monterrey
Columbia-based La Haus,a Zillow-inspired online residential platform, announced that it recently raised an additional $35M in its last round of venture capital funding with the intention of extending its services to cities across Latin America. This latest $35M investment increased the valuation of the company “…well north of $100M,” said La Haus co-founder and president Rodrigo Sanchez-Rios.
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La Haus has engaged investors such as Baltimore-based but internationally focused Greenspring Associates, Kaszek Ventures(VC backer of some of Latin America’s largest startups), Zillow Group Inc.’s co-founder Spencer Rascoff and Trulia LLC founder Peter Flint with its vision to represent residential properties throughout Latin America.
Currently operating its platform services in Columbia and Mexico, La Haus is setting its sights on large cities in Latin America where real estate markets are particularly “disorganized.” Such cities include Sao Paolo, Rio de Janeiro, Monterrey, and Guadalajara. Typically, in these cities and many others, the average time it takes to sell a residential property is 14 months when selling through traditional channels. La Haus, with its platform that enables linkages of homebuyers to banks for financing, intends to shorten that transaction time from 14 months to five weeks.
The COVID pandemic has actually benefitted La Haus as its clients have become increasingly comfortable using online services to search for, view and purchase properties. According to Sanchez, “(The pandemic) accelerated every single trend on top of which we were building the company.”
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With holiday destination purchases and second-home acquisitions becoming increasingly popular among homebuyers, it only makes sense for US as well as international real estate agents to pay attention to properties and opportunities already and becoming more available in Latin America. La Haus could be an avenue into those properties and opportunities for both agents and their clients.
Thanks to Bloomberg.
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