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Victory Park Capital Provides $100MM Credit Facility to Habi

April 21, 2023, 07:40 AM
Filed Under: Real Estate

Habi, the leading residential technology company in Spanish-speaking Latin America, entered into a US$100 million credit facility with Victory Park Capital (“VPC”), a global alternative investment firm specializing in private credit.

This financing is the beginning of a partnership between VPC and Habi to bring more innovation to the sector. Habi plans to continue building on the extensive portfolio of residential products it has created since 2019 and increasing its volume of used home purchases and sales in Colombia, thereby enabling thousands of middle-class families to access housing in an agile, secure and transparent manner.

“At Habi, our mission includes improving the home-buying and selling process for millions of families in Colombia and Latin America,” said Brynne McNulty Rojas, CEO and co-founder of Habi. “We are proud to have provided more than 30,000 families to date with helpful information and easy-to-use technology during the most important financial decision of their lives. With VPC’s support, we aim to serve thousands more by offering a more robust portfolio and even more nimble and reliable processes."

Gordon Watson, Partner at Victory Park Capital, said, "We believe in Habi's mission to empower Latin American families and provide a smoother, more accessible home buying and selling process. We are also confident that the proptech industry in Latin America is primed for growth, and our partnership with Habi is a testament to that.”

Marcos Kantt, Habi's chief financial officer, said, "We are proud to have the backing of Victory Park Capital, especially in light of the slowdown we are experiencing in technology investment globally. Our results demonstrate resilience to macroeconomic swings, as evidenced by this financing – one of the largest in the proptech sector in the past 12 months – from a globally-recognized institutional investor."

Habi is the largest buyer and seller of used homes in Colombia and Mexico, and the largest mortgage originator in Colombia. Through the efficient use of data and technology, the company has reduced the time it takes to sell a home by 30x, going from an average of more than 10 months to just 10 days, through a reliable and trustworthy process.

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