Habi Public-Source Startup Diligence Report
Habi addresses a real LatAm residential-liquidity pain point with publicly corroborated unicorn financing, but diligence should focus first on inventory turns, debt exposure, credit compliance, and cohort economics because the public record is mostly funding and marketing disclosure.
Habi Public-Source Startup Diligence Report
Habi remains eligible for public-source diligence as an uncovered private unicorn based on CB Insights and supporting public evidence; no public evidence found in this run showed IPO, acquisition, or shutdown.
Thin public financial/unit-economic disclosure is material for Habi because public sources do not provide enough private operating evidence to quantify it fully.
Diligence request: Request management data-room materials, third-party corroboration, and covenant/compliance evidence before underwriting this risk.
Capital-intensive inventory and housing-cycle exposure is material for Habi because public sources do not provide enough private operating evidence to quantify it fully.
Diligence request: Request management data-room materials, third-party corroboration, and covenant/compliance evidence before underwriting this risk.
Regulatory, data and credit-product complexity is material for Habi because public sources do not provide enough private operating evidence to quantify it fully.
Diligence request: Request management data-room materials, third-party corroboration, and covenant/compliance evidence before underwriting this risk.
Mexico/Colombia execution and property-title friction is material for Habi because public sources do not provide enough private operating evidence to quantify it fully.
Diligence request: Request management data-room materials, third-party corroboration, and covenant/compliance evidence before underwriting this risk.
Valuation staleness versus 2022 market conditions is material for Habi because public sources do not provide enough private operating evidence to quantify it fully.
Diligence request: Request management data-room materials, third-party corroboration, and covenant/compliance evidence before underwriting this risk.
Financial Information diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-003; unresolved private items are called out below.
| metric | public signal | verification status | private data request |
|---|---|---|---|
| Revenue / ARR | not_publicly_verifiable beyond financing/marketing scale claims | not_publicly_verifiable | Audited income statements, monthly revenue by product/channel/geography, deferred revenue and revenue-recognition policy |
| Gross margin / contribution margin | not_publicly_verifiable | not_publicly_verifiable | Gross margin bridge, COGS allocation, support costs, transaction losses and sales commissions |
| Backlog / customer concentration | not_publicly_verifiable | not_publicly_verifiable | Top customers/accounts, backlog, retention, churn, cohort and AR aging schedules |
partially verified confidence: medium
No complete public dataset was available for Financial Projections; this section is treated as a data-room request area.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-002; unresolved private items are called out below.
| stakeholder | public position | diligence caveat |
|---|---|---|
| Founders and common shareholders | Founder identities are publicly referenced but exact ownership is private | Request cap table, option pool, founder vesting and secondary-sale history |
| Institutional investors | SoftBank Latin America Fund; Homebrew; Inspired Capital / Tiger Global | Request share classes, liquidation preferences, side letters and pro-rata rights |
| Debt/warrant holders | not_publicly_verifiable | Request all debt, warehouse, venture-debt, warrant and security agreements |
partially verified confidence: medium
Public-source findings are structured in exhibits T-001, F-001, F-002; unresolved private items are called out below.
| date | round | lead or participants | amount | post money or valuation | source |
|---|---|---|---|---|---|
| 2020 | Series A | Not publicly verified in this run; company blog says US$12.5M | US$12.5M | not_publicly_verifiable | SRC-003 |
| 2021 | Series B | Company blog and LatamList say US$100M round before Mexico expansion | US$100M | not_publicly_verifiable | SRC-003 |
| 2022-05-12 | Series C | Company blog and LatamList report US$200M round with SoftBank, Homebrew, Inspired Capital, Tiger Global | US$200M | $1.0B | SRC-003 |
Products diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-004, T-005, F-003; unresolved private items are called out below.
| product | audience | key features | public evidence | verification status |
|---|---|---|---|---|
| Instant home purchase / iBuyer | Home sellers | Offer request, property visit, agreement, advance, closing disbursement | SRC-002 | verified |
| Habimetro | Sellers and buyers | Online property valuation based on property characteristics | SRC-003 | verified |
| Remodeled property sales | Home buyers | Inventory of used/remodeled apartments for sale | SRC-002 | verified |
| Habi Credit / mortgage brokerage | Home buyers | Credit and mortgage-brokerage services referenced publicly | SRC-002 | verified |
| offering | public pricing or fee signal | competitor or alternative | verification status | gap |
|---|---|---|---|---|
| Instant home purchase / iBuyer | Specific customer pricing and fees not publicly disclosed | Loft | not_publicly_verifiable | Request price book, discounting, take-rate, gross/net revenue and refunds/credits policy |
| Habimetro | not_publicly_verifiable | La Haus | not_publicly_verifiable | Request monetization by SKU and margin by plan/category/geography |
Customer Information diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-006; unresolved private items are called out below.
| customer or segment | use case | public evidence | verification status |
|---|---|---|---|
| Home sellers | Consumers seeking speed and certainty selling apartments | +40,000 families bought or sold with Habi | partially_verified |
| Home buyers | Consumers seeking remodeled used homes | Company lists properties for sale and testimonials | partially_verified |
| Real-estate agents/brokers | Partner channel for inventory sourcing | +4,000 allied agents disclosed by Habi | partially_verified |
partially verified confidence: medium
Public-source findings are structured in exhibits T-007; unresolved private items are called out below.
| partner | relationship type | public evidence | verification status | gap |
|---|---|---|---|---|
| SoftBank Latin America Fund | Series C investor | Habi blog and LatamList list SoftBank among investors | verified | Request agreements, economics, termination rights and exclusivity/most-favored-nation terms |
| Homebrew | Series C investor | Habi blog and LatamList list Homebrew among investors | verified | Request agreements, economics, termination rights and exclusivity/most-favored-nation terms |
| Inspired Capital / Tiger Global | Series C investors | Habi blog and CB Insights list these investors | verified | Request agreements, economics, termination rights and exclusivity/most-favored-nation terms |
| Propiedades.com / Tu Cantón | Mexico market assets | Habi blog says it bought these assets before Mexico operations | partially_verified | Request agreements, economics, termination rights and exclusivity/most-favored-nation terms |
not publicly verifiable confidence: low
Public-source findings are structured in exhibits F-004; unresolved private items are called out below.
partially verified confidence: medium
No complete public dataset was available for Significant relationships severed within the last two years; this section is treated as a data-room request area.
partially verified confidence: medium
Public-source findings are structured in exhibits T-008; unresolved private items are called out below.
| supplier or dependency | role | public evidence | concentration risk | verification status |
|---|---|---|---|---|
| Real-estate inventory sellers | Primary supply of homes | Company must source homes with acceptable title, condition and price | high if supply/channel access is concentrated | not_publicly_verifiable |
| Broker/agent network | Inventory sourcing and sales channel | Company discloses +4,000 allied agents | medium or not_publicly_verifiable | partially_verified |
| Credit and legal service providers | Mortgage, title and closing workflows | Specific supplier agreements are not public | medium or not_publicly_verifiable | not_publicly_verifiable |
Competition diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
partially verified confidence: medium
Public-source findings are structured in exhibits T-009, T-010, F-005; unresolved private items are called out below.
| competitor | segment | product overlap | differentiator | source |
|---|---|---|---|---|
| Loft | Brazil proptech/iBuyer | Home transaction simplification and financing | Scale, capital access, market liquidity | SRC-006 |
| La Haus | LatAm residential marketplace | Digital home-buying journey | Marketplace and mortgage integration | SRC-006 |
| Traditional brokers | Offline real estate brokerage | Inventory sourcing, seller relationships | Local reach and trust | SRC-002 |
| axis | target position | top competitor position | evidence |
|---|---|---|---|
| Scale / network effects | public scale signals but private economics | varies by market/category | Public pages cite users/customers/partnerships but not retention or market share |
| Trust / compliance / risk controls | public controls or process claims; audit evidence private | regulated/incumbent alternatives may have deeper controls | Request SOC/audits, compliance reports and incident history |
| Pricing / take rate | not_publicly_verifiable or partially public | competitive pressure likely | Request win/loss and discounting data |
Marketing, Sales, and Distribution diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
partially verified confidence: medium
Public-source findings are structured in exhibits T-011, T-012; unresolved private items are called out below.
| channel | region | public evidence | gap |
|---|---|---|---|
| Direct online conversion / self-service | Colombia and Mexico, with Bogota origin and Latin America expansion ambitions | Website CTAs, forms, marketplace or sign-up flows are public | Request funnel conversion, CAC and payback by channel |
| Partnerships / ecosystem / brokers | Colombia and Mexico, with Bogota origin and Latin America expansion ambitions | Habi blog and LatamList list SoftBank among investors | Request partner-sourced revenue and concentration |
| PR, case studies and content | Global/public web | Funding announcements, press/fact sheets and customer stories are public | Request campaign spend, attribution and pipeline influence |
| signal | public metric or claim | source | verification status |
|---|---|---|---|
| Funding/valuation PR | $1.0B unicorn valuation | SRC-001 | verified or partially_verified |
| Usage/customer proof | +40,000 families bought or sold with Habi | SRC-002 | partially_verified |
| Thought leadership / product positioning | Offer request, property visit, agreement, advance, closing disbursement | SRC-003 | verified |
partially verified confidence: medium
No complete public dataset was available for Major Customers; this section is treated as a data-room request area.
partially verified confidence: medium
Public-source findings are structured in exhibits F-006; unresolved private items are called out below.
partially verified confidence: medium
No complete public dataset was available for Sales force productivity model; this section is treated as a data-room request area.
partially verified confidence: medium
No complete public dataset was available for Ability to implement marketing plan with current and projected budgets; this section is treated as a data-room request area.
Research and Development diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-013, F-007; unresolved private items are called out below.
| name or role | public role | background or signal | source | verification status |
|---|---|---|---|---|
| Brynne McNulty Rojas | Cofounder / CEO | Company blog identifies her as a cofounder and woman founder/CEO of a LatAm unicorn | SRC-003 | verified |
| Sebastian Noguera | President / Cofounder | Company blog quotes Noguera on innovation and expansion goals | SRC-003 | verified |
| Adrian Mastronardi | CTO signal | Search-result source references Habi CTO in an executive-interview context; role should be confirmed directly | SRC-006 | partially_verified |
partially verified confidence: medium
Public-source findings are structured in exhibits T-014; unresolved private items are called out below.
| project | status | expected date | evidence | verification status |
|---|---|---|---|---|
| Habimetro | Publicly described active product/capability | not_publicly_verifiable | Online property valuation based on property characteristics | verified |
| Remodeled property sales | Publicly described active product/capability | not_publicly_verifiable | Inventory of used/remodeled apartments for sale | verified |
| Internal roadmap and R&D spend | not_publicly_verifiable | not_publicly_verifiable | Requires product roadmap and engineering budget | not_publicly_verifiable |
Management and Personnel diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits F-008; unresolved private items are called out below.
partially verified confidence: medium
Public-source findings are structured in exhibits T-016, F-009; unresolved private items are called out below.
| function or region | public evidence | source | verification status | private request |
|---|---|---|---|---|
| Total employees/teammates | Company blog says more than 1,000 people in Colombia and Mexico | SRC-003 | verified | Monthly headcount by function/location, open reqs and attrition |
| Projected hiring plan | not_publicly_verifiable | N/A | not_publicly_verifiable | Hiring plan, budget, compensation bands and contractor/vendor usage |
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-015; unresolved private items are called out below.
| name | role | public background | source | diligence caveat |
|---|---|---|---|---|
| Brynne McNulty Rojas | Cofounder / CEO | Company blog identifies her as a cofounder and woman founder/CEO of a LatAm unicorn | SRC-003 | Request employment agreements, equity grants, departures and reference checks |
| Sebastian Noguera | President / Cofounder | Company blog quotes Noguera on innovation and expansion goals | SRC-003 | Request employment agreements, equity grants, departures and reference checks |
| Adrian Mastronardi | CTO signal | Search-result source references Habi CTO in an executive-interview context; role should be confirmed directly | SRC-006 | Request employment agreements, equity grants, departures and reference checks |
not publicly verifiable confidence: low
No complete public dataset was available for Compensation arrangements; this section is treated as a data-room request area.
partially verified confidence: medium
No complete public dataset was available for Incentive stock plans; this section is treated as a data-room request area.
partially verified confidence: medium
No complete public dataset was available for Significant employee relations problems, past or present; this section is treated as a data-room request area.
partially verified confidence: medium
Public-source findings are structured in exhibits T-017; unresolved private items are called out below.
| signal | public evidence | verification status | follow up |
|---|---|---|---|
| Executive departures | No comprehensive public departure register found in this run | not_publicly_verifiable | Request executive-change log, regretted attrition and retention-risk list |
| Employee relations issues | No reliable public evidence reviewed in this run established material employee-relations problems | inconclusive | Request complaints, investigations, settlements and employee engagement surveys |
Legal and Related Matters diligence for Habi found public evidence on valuation, product position, scale signals and leadership where available, but private data-room materials are required for definitive underwriting.
not publicly verifiable confidence: low
Public-source findings are structured in exhibits T-018; unresolved private items are called out below.
| case | court or forum | filed date | status | source | diligence request |
|---|---|---|---|---|---|
| No material pending case identified in public-source sweep | not_publicly_verifiable | not_publicly_verifiable | inconclusive | Public web/search only | Request litigation docket, demand letters, threatened claims and outside counsel memo |
partially verified confidence: medium
Public-source findings are structured in exhibits T-019; unresolved private items are called out below.
| defendant | court or forum | filed date | status | source | diligence request |
|---|---|---|---|---|---|
| No material plaintiff-side case identified in public-source sweep | not_publicly_verifiable | not_publicly_verifiable | inconclusive | Public web/search only | Request litigation docket, collection actions, IP claims and settlement history |
not publicly verifiable confidence: low
No complete public dataset was available for Environmental and employee safety issues and liabilities; this section is treated as a data-room request area.
partially verified confidence: medium
Public-source findings are structured in exhibits T-020; unresolved private items are called out below.
| asset | jurisdiction | status | source | diligence request |
|---|---|---|---|---|
| Habi brand and product marks | Primary operating markets | Public brand use observed; registry status not checked exhaustively | Company site/press pages | Request trademark schedule, assignments, licenses and open-source policy |
| Software, algorithms, data assets and content | Operating markets | Ownership and third-party license posture not_publicly_verifiable | Product descriptions | Request IP assignment agreements, code provenance and OSS/license scans |
not publicly verifiable confidence: low
No complete public dataset was available for Insurance coverage and material exposures; this section is treated as a data-room request area.
not publicly verifiable confidence: low
No complete public dataset was available for Material contracts; this section is treated as a data-room request area.
partially verified confidence: medium
Public-source findings are structured in exhibits T-021, F-010, F-011; unresolved private items are called out below.
| agency or domain | action or requirement | date | status | source | diligence request |
|---|---|---|---|---|---|
| Privacy/data protection | Policies/controls or direct policy text require deeper review | current | not_publicly_verifiable | SRC-006 | Request DPAs, privacy impact assessments, incident logs and regulator correspondence |
| Sector-specific consumer/commerce regulation | Consumer, credit, advertising or marketplace obligations vary by product and geography | current | not_publicly_verifiable | Public product descriptions | Request counsel memo, licenses/registrations and compliance testing results |
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights lists Habi as a unicorn at $1B valuation joined on 2022-05-11. | verified high | SRC-001 |
| EC-002 | Habi announced it became Colombia’s second unicorn after a US$200M Series C valuing it at US$1B. | verified high | SRC-003SRC-004 |
| EC-003 | Habi’s public product model includes buying homes quickly, valuation tools, remodeled inventory, broker alliances, and credit services. | verified high | SRC-002SRC-003 |
| EC-004 | Habi says more than 40,000 families have bought or sold through Habi and more than 4,000 real estate agents are allied with it. | partially verified medium | SRC-002 |
| EC-005 | Public sources describe operations across Colombia and Mexico, including Mexico entry as TuHabi and acquired Mexican real-estate assets. | verified high | SRC-003SRC-004 |
| EC-006 | Public sources identify Brynne McNulty Rojas and Sebastian Noguera as cofounders and cite a team of more than 1,000 people in Colombia and Mexico. | verified high | SRC-003SRC-004 |
| EC-007 | Habi’s financial statements, customer revenue concentration, unit economics, inventory leverage, and cap table are not publicly verifiable. | not publicly verifiable high | SRC-001SRC-003SRC-004 |
| EC-008 | Habi’s model exposes the company to property-inventory, market-liquidity, pricing-model, and credit risks. | partially verified medium | SRC-004SRC-002 |
| EC-009 | No public-source evidence in this run showed that Habi has IPO’d, been acquired, or shut down. | inconclusive medium | SRC-001SRC-005SRC-002 |
| EC-010 | Habi’s privacy/legal diligence remains incomplete because direct legal-policy fetching was unreliable in this run. | not publicly verifiable low | SRC-002 |
| ID | Publisher | Title | Accessed |
|---|---|---|---|
| SRC-001 | CB Insights | The Complete List Of Unicorn Companies | 2026-06-06 |
| SRC-002 | Habi | HABI | Compramos tu apartamento | 2026-06-06 |
| SRC-003 | Habi | Habi se convierte en el segundo unicornio colombiano | 2026-06-06 |
| SRC-004 | LatamList | The proptech Habi becomes Colombia’s second unicorn with a $200M Series C | 2026-06-06 |
| SRC-005 | DuckDuckGo HTML search | Habi proptech Colombia unicorn valuation private company search results | 2026-06-06 |
| SRC-006 | DuckDuckGo HTML search | Habi Colombia homes buy sell marketplace company search results | 2026-06-06 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.