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SubscribeCuatrecasas has advised BBVA Colombia and its business unit BBVA Spark on a USD 40 million (COP 151 billion) financing facility granted to Habi, a Colombian-based proptech company that facilitates home purchases, sales, and financing. The financing is aimed at boosting its business model and revitalizing the country’s real estate market.
The transaction will allow Habi to extend its presence in Colombia by strengthening its investment capacity in residential assets and continuing to develop its technological model based on data and artificial intelligence. The model has been used to execute over 66,000 proprietary purchase, sale, and financing transactions, offering agile, secure, and transparent business deals.
“The financing provided by BBVA Spark recognizes the dedicated work Habi has been doing in Colombia and Latin America to expand access to homeownership for thousands of people. We are proud to support Colombian banks in this endeavor to create a country with greater and better opportunities for all,” said Manuel Quinche, managing partner of the Cuatrecasas Bogotá office.
To date, Habi has enabled over 40,000 Colombian families to perform transactions using its platform. By scaling its technological model of financial solutions, and thus reducing time and costs in this type of transaction, it improves the real estate market’s liquidity and accessibility.
The Cuatrecasas team advising on this transaction was led by Manuel Quinche, accompanied by lawyers Emilio Echeverry, Simón Hakim, Santiago Jaramillo, and María Alejandra Martínez, from the Finance Practice.Don’t miss our content
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