7:01:12 AM PDT - Wednesday, August 17th, 2022

Mudafy raises $10M in Founders Fund-led Series A to fix LatAm’s ‘broken’ real estate process  

By Editor - Tue Aug 02, 8:59 am

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Mudafy , a tech-enabled real estate broker operating in Latin America, has raised $10 million in a Series A round of funding led by San Francisco-based Founders Fund. Founded in mid-2019, Mudafy operates with a typical digital brokerage model — aiming to make it easier for people to buy and sell their homes and serve as a “one-stop shop” in the process. The startup — also backed by Y Combinator — touts that its site features over 50,000 listings and has more than 1 million monthly unique active users in Argentina and Mexico. It claims that it is doing more than 100 real estate transactions per month and is currently originating over 50% of the mortgage loans for its customers.  “This is the beginning of a larger push into fintech and at the same time it improves access to better properties for customers,” said CEO and co-founder Franco Forte. Mudafy’s ambition with its new capital, among other things, is to generate $500 million in annualized sales by year’s end. Forte says that it ended 2021 with “ more than $100 million in sold properties” and maintained a sustained growth of over 20% month-over-month. Overall, he added, the company increased its sales by “10 times” for the second year in a row in 2021. Today, he says Mudafy is operating at a run rate of “over 2x” of what it did in 2021.

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Mudafy raises $10M in Founders Fund-led Series A to fix LatAm’s ‘broken’ real estate process

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