DLA Piper Mexico has advised Tuhabi, Habi’s Mexican subsidiary and Latin America’s first unicorn in the PropTech sector, on closing a loan of up to USD $50 million with IDB Invest, the private sector arm of the IDB Group.
The funds are planned to be used by Tuhabi to purchase more inventory and grow its operations in Mexico.
Founded in Colombia in late 2019, Habi has been expanding in Mexico for nearly two years. Thousands of families have used Habi’s online platform to transact, sell properties or receive help in obtaining a mortgage.
The firm also recently advised Tuhabi on securing MXN$400 million in financing from BBVA’s new start-up financing division, BBVA Spark, marking BBVA Spark’s first transaction in Mexico.
DLA Piper’s team was led by partner Edgar Romo (pictured left), with support from partner Roberto Ríos (pictured right) and associates Javier Pichardini and Eduardo Gallastegui S.