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Huspy Raises $37 Million To Accelerate Expansion Across EMEA

The company wants to use the funds to invest in technology development, expand into new markets across Europe, and boost growth in regions where it already operates.

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huspy raises $37 million to accelerate expansion across emea
Huspy

PropTech startup Huspy has just raised $37 million in a Series A funding led by Sequoia Capital India.

Also participating in the round of venture capital financing were California-headquartered venture capital firms Founders Fund, Fifth Wall, and Chimera Capital, which joined returning investors Breyer Capital, BY Venture Partners, COTU, VentureFriends, and Venture Souq.

The company wants to use the funds to invest in technology development, expand into new markets across Europe, and boost growth in regions where it already operates.

huspy team group picture

“In just under two years, Huspy has grown to become one of the largest property platforms, facilitating billions of dollars in volume. Today, we’re humbled to partner with global and regional investors, and we look forward to working together to reshape the world’s largest asset class,” said Jad Antoun, co-founder & CEO of Huspy.

Launched in 2020, Huspy strives to streamline the home buying experience by creating a modern platform connecting home buyers with leading property agents and trusted financial institutions.

It took Huspy just one year of operations to become the leading mortgage provider in the United Arab Emirates, with an annual run rate of more than 1 billion USD.

Also Read: UAE To Punish Crypto Scammers With Fines & Jail Time

The startup has successfully recruited talent from some of the world’s top tech companies, including Compass, Gympass, Loft, Loggi, Microsoft, Quinto Andar, SumUp, and Uber. It also employs a team of brokers with over 20 years of experience working for banks like Emirates NBD, RAKBANK, ADIB, and DIB.

“In a short span of time, the company has demonstrated its strong value proposition for the real estate ecosystem and has become the market leader in mortgage broking in the UAE with healthy unit economics,” commented GV Ravishankar, MD, Sequoia India.

The PropTech market is expected to grow at a CAGR of 16.8% between 2022-2032 as startups and incumbent real estate companies use modern technology to make the home buying experience less stressful.

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Cisco Unveils Strategic Vision For Enterprise Cloud Security In MENA

At the heart of this vision is Cisco Security Cloud, a global, cloud-delivered, integrated platform for end-to-end security across hybrid multi-cloud environments.

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cisco unveils strategic vision for enterprise cloud security in mena

The global pandemic has accelerated cloud adoption by forcing companies to embrace the hybrid work model. But as companies move more and more of their information technology systems to the cloud, they discover that traditional security measures become less and less effective. To help cloud adopters of all sizes overcome the challenges associated with enterprise cloud security, Cisco has unveiled its new strategic vision for the MENA region.

At the heart of this vision is Cisco Security Cloud, a global, cloud-delivered, integrated platform for end-to-end security across hybrid multi-cloud environments. The platform unifies the management and policy administration of public and private clouds to protect users, devices, networks, applications, and data.

“With the complexity of hybrid work, continued acceleration of cloud adoption, and the ever-advancing threat landscape, organizations are looking for a trusted partner to help them achieve security resilience,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. “We believe Cisco is uniquely positioned due to its scale, breadth of solutions and cloud-neutral business model to meet their needs.”

Cisco Security Cloud is based on the zero trust security model, which, as its name implies, describes an approach to security where no access request is trusted without verification regardless of where it comes from.

Also Read: Is Your Phone Hacked? How To Find Out & Protect Yourself

To make the verification process as robust and user-friendly and possible, the necessary identity checks take place in the background, allowing users to focus on their work without being constantly interrupted by log-in prompts and other identity verification mechanisms.

Cisco is also building session trust analysis using OpenID Foundation’s Shared Signals and Events standards, which allow cloud services to instantly communicate security alerts and status changes of users.

These and other parts of Cisco’s new strategic vision for enterprise cloud security should help companies accelerate their cloud adoption initiatives. According to a survey of IT professionals in the Middle East, a lack of cybersecurity is among the main reasons why such initiatives proceed at a slow pace.

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