Contxto – São Paulo-based startup Housi is making a very cozy home for itself in Redpoint eventures’ portfolio, following a recent investment round of R$50 million (around US$11 million).
Housi receives, manages, and leases real estate through its platform, without actually owning any. Properties displayed through Housi can be rented to live in for longer periods, as well as for short-term use on platforms like Booking.com and Airbnb. The startup also furbishes and prepares properties so they’re ready for moving in.
Investment funds will be used for the startup’s expansion into more cities in Brazil. In exchange, Redpoint eventures now holds a minority stake in the startup.
It’s reported that Housi currently oversees 5,000 properties worth around R$3 billion (almost US$708 million).
Through this investment round the proptech joins other high-profile startups in this venture capitalist’s (VC) portfolio on Mount Olympus such as Rappi, Gympass, and Creditas.
Housi was born from Brazilian real estate company, Vitacon, as a management spinoff in January of this year. Up until October, it had managed 75 percent of Vitacon’s 2019 property releases.
However, just as the child may someday outgrow the parent, Housi managed to contribute to 15 percent of Vitacon’s revenue in just under twelve months.
While not every startup can be backed or emerge from a real estate giant, there are plenty of lessons to learn from Housi.
First and foremost ,it landed a good product-fit by identifying a real need: on-demand housing. The startup’s founder Alexandre Frankel observed that younger generations required flexible living options that didn’t limit their mobility. Tie-downs through long-term lease agreements seemed like a form of prison.
Likewise, this market is on the lookout for experiences, not just products or services. Housi also satisfies this demand through arrangements of coworking spaces, group yoga, and ride-sharing.
Moreover, whether it’s investors or partnerships, finding the right associates is also a big deal.
For example, Housi teamed up with Rappi in April this year. Now besides ordering food or groceries on the Colombian-based app, users can also search for apartments. The app is also collaborating with Grin’s scooter-rental system.
Easy, user-friendly access was a common point these startups shared and became the common ground to offer these features.
So take the time to review your startup’s offerings, the pain points it may (or may not) solve. Furthermore, review what people or businesses may be compatible with your startup’s weaknesses or, can help strengthen it.
Get it? Got it?