UAE start-up Huspy acquires Just Mortgages and Finance Lab
Dubai-based proptech start-up Huspy has acquired two mortgage brokerages – Just Mortgage and Finance Lab – for undisclosed sums.
The founders and employees of both companies will join Huspy upon completion of the deals.
Just Mortgages was established in 2018 by Ramesh Khemani to provide mortgage and property transaction consultation services.
Finance Lab was founded in 2020 by Manish Bhagnari, a financial services veteran with two decades of banking experience. The company supports property financing through a network of banking partnerships across the UAE.
Bhagnari says the firm has been “working closely with Huspy for the past 18 months” and the acquisition will “allow us to further accelerate our business and add more value to our clients and partners”.
The two deals follow Huspy’s acquisition of Home Matters in January this year.
Huspy says the new additions will enable the company to fulfill its mission of “improving the home buying ecosystem in the region”.
Addressing the acquisitions, Ankit Shah, Huspy’s head of M&A, mortgages UAE, says the two firms are a “cultural fit for Huspy’s values” and the additions will “create further benefits for home buyers in the UAE”.
Launched in 2020, Huspy provides a single platform for customers to find and finance their homes. In June 2022, the company raised $37 million in its Series A funding round.