3 million euros, almost at the last minute, with a very clear objective: to take advantage of the acceleration of the digitization of the real estate sector as a result of the coronavirus and to grow faster. Under this premise, Housfy closes a new Series A round. The first of all the entrepreneurial panorama, one could almost say, that has been created during and due to the virus.
They have participated in the operation the same funds as in May 2019 They entered the capital of digital real estate with 6 million euros: Seaya Ventures, together with Housfy since its creation – and also an investor in Glovo or Cabify -, Torch Capital and DN Capital and the French Cathay Capital.
The objective now is to take advantage of the low hours of the little digitized competition and conquer one of the most traditional sectors. “If we are able to endure this year, which is going to be very hard, we can handle everything. And if another outbreak comes and we are able to overcome it, in 2021 we will conquer everything. Many agencies are going to have a very hard time, but digitization It helps “, explains Albert Bosch, founder of Housfy, in statements to Hiperetxtual.
The giants of the sector were already entering this market segment, but “the Spanish average agency has 3 or 4 employees; they are very small companies and everything that involves digitization is expensive and costly for them,” they explain. For this reason, in another of the company’s business legs, they are addressing the commercialization of technology for third parties. Although they are “aware that it will cost them a lot because of the cost and the change of mentality”.
A sector in permanent crisis
Housfy’s goal is to sell almost 10,000 in the next 5 years, an adjusted number after the arrival of the coronavirus crisis. Even digital real estate agencies have had their worst moments during these months of confinement. And even so, they are the ones that provide the best data; And investors know this: already in Mexico, La Haus –homologist from Housfy in the region– has also attracted the attention of capital for its goal of real estate digitization.
“I think in April we sold two apartments online and we came from selling 150 a month with figures from February. This is the magnitude of the tragedy. Now we are seeing that the recovery is very fast, with February sales levels; What we do not know is if this will continue or if they are sales borrowed from the demand of the past months. Buyers who wanted to buy in April and did not. We’ll see what happens, “explains Bosch.
A sector that, since 2007 with figures before the economic crisis, has not fully recovered. With over a million homes sold, now only half the year is reached. Forecasts for the real estate startup point to a small but slight drop: “People are very active, from what I’m seeing.”
Not so much the prices that are being handled, that it looked like they were going to crash with the Covid-19, but that point to a movement of between 5% and 10% according to the data of the technology.
And now Housfy is going for the rent
They had it on the agenda for not much later, but it has arrived right in the middle of the pandemic. A perfect time to take advantage of another of the veins of the real estate business: rent.
Economic uncertainty and prices that remain above the purchasing power of many potential buyers make renting one of the best options from here on out.
Housfy has only been in the rental business for three weeks, so you do not have solid figures on the table yet. But they already know where the trend will go.
“The rent has two things. On the one hand, it is going to grow a lot and on the other, delinquencies are going to multiply. Before Covid it was 5%. During the coronavirus it has become 15%, which is crazy. Obviously, this 15% will go down again (we don’t know to what number). We see this as an opportunity. We already have a brand in the sector, which makes us known. ”
In this sense, Housfy has launched itself more as an intermediary of the rental processes, through insured collection insurance, than as an agency that charges a feed.