FinTech Holo has announced the closing of its SEED round led by Saudi-based Watheeq Proptech Venture and Hambro Perks Oryx Fund with participation from Dubai Future District Fund, Annex Investments, and Tawaref Angel Network. Founded by Michael Hunter and Arran Summerhill in 2019, Holo is an online mortgage application service aiming to simplify the process of owning a home.
The startup is aimed at digitizing the home-buying process. Michael Hunter, Co-Founder and CEO of Holo, said: “Since we launched in 2019, our mission has been to give aspiring homeowners fast and convenient access to free, unbiased mortgage advice and products; empowering customers to make the best decision for them. Our business is expanding but that mission hasn’t changed. We know that buying property is stressful for first-time buyers. We’ve set out to remove the headache by digitizing the home-buying process and holding the customers’ hand until they get the keys, with transparent and accurate information, for free.
Speaking about Holo’s growth through 2022 Arran Summerhill, Co-Founder and COO of Holo, said “The number of home loan applications we received in 2022 has continued to grow and we’ve seen an increase of 280% in the loan value of applications in 2021. Our white-label solution Holo X is fast becoming the preferred digital solution of brokers, real estate agents and property developers because they know and trust that their clients are safe in our hands. We’re proud of that point of difference and are looking forward to bringing Holo to KSA as the first digital mortgage service in the country”.
Khaled Zaidan, Managing Partner at Watheeq Proptech Venture, MENA’s 1st proptech venture said “one of the things that really excites us about Holo is having an online multi-solution buying and mortgage platform for the largest asset class that fits the MENA market. The digitization of the home-buying process in the region is still at an early stage. Convincing real estate stakeholders to use technology is difficult. The experience of Holo’s team in the real estate market and their capacity to develop solutions that speak the real estate industry’s language, in such a short space of time is what will make the company a market leader. We look forward to assisting the company’s vision throughout our experience and relationships in the sector to achieve their potential growth”.
Sharif Elbadawi, CEO of DFDF (Dubai Future District Fund) said “We believe Holo is a game changer for the regional finance and real estate markets. Not only are they building a fantastic product, and guiding home buyers through a digitized purchasing experience, but they are also innovating an age-old industry where much of the buying process remains manual. We partnered with Holo to support efficiency and transparency for all stakeholders in the real estate ecosystem”.
Also Read: Top 9 Middle Eastern Fintech Anticipated to Grow in 2023
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Last Updated on February 9, 2023 by Safiya K
