Latest news with #BaldertonCapital
Yahoo
5 days ago
- Business
- Yahoo
'It's About A Fetishization Of Overwork Rather Than Smart Work,' Why These Tech Leaders Are Pushing Back Against '996 Work Culture'
Venture capital Fund 20VC founder Harry Stebbings made a LinkedIn post in June that sparked a debate among European tech leaders about the culture of overworking. "What European founders need to realize: The valley has turned up the intensity once again. Seven days a week is the velocity required to win right now," the post read. There is no room for slip up. You aren't competing against a random company in Germany, etc., but the best in the world," Like many LinkedIn posts, Stebbings intended his message to be motivational. However, it wound up being wildly controversial. Don't Miss:Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — In places like China, the 996 work culture, where employees are expected to be at their desks from 9 a.m. to 9 p.m., six days a week, has been the expected mode of operation for years. CNBC has reported that at China-based companies like Alibaba (NYSE:BABA) and TikTok all but require 996 working hours from their employees. However, many European founders and venture capitalist partners are now telling CNBC that they think the 996 work culture is unnecessary. "It's about a fetishization of overwork rather than smart a myth," Balderton Capital General Partner Suranga Chandratillake told CNBC. "California is very good at telling stories and there's a lot of mythmaking around the concept of what startups look like.... there is hard work involved but if you really spend time in that ecosystem, you will discover that lots of people work really hard, but there are also periods where they don't work." Trending: $100k+ in investable assets? – no cost, no obligation. Bloom Money founder Nina Mohanty agrees, pointing out the "lasting effects and unintended consequences" of such an over-the-top work culture. Husmus co-founder Sarah Wernér and Bethnal Green Ventures Partner Dama Sathianathan pointed to the negative effects 996 work culture has on talent. "Overwork today is a productivity crisis tomorrow," Wernér told CNBC. "Personally, I hope my competitors are doing 996. It makes poaching great people a lot easier when they decide they've had enough." "Optimizing labor doesn't always lead to better productivity, or help with differentiating from other companies long-term, if you've made work devoid of meaning," Sathianathan explained. Meanwhile, Luna founder Jas Schembri-Stothart said that 996 culture was going to alienate millennial and Gen Z employees, in particular, as they have "much less tolerance for toxic hustle culture."Instead of requiring more working hours, these European tech experts say that startups need more funding and resources to be competitive on the world stage. "What Europe really needs isn't more hustle-porn it's more aggressive funding," Wernér told CNBC. "With the right level of capital, our startups can hire enough talent to work intensely without breaking themselves." Still, these experts acknowledge that for many startups, there will be a season of hustle that is necessary to achieve a certain level of success. "I think there are seasons but I also think that if you are a first-time founder or if your primary goal is basically wealth creation, I'll be very candid, if this is your season, and you're stepping back, then you're not serious about it," Fanbytes co-founder Timothy Armoo told CNBC. Read Next: Many are using retirement income calculators to check if they're on pace — Image: Imagn Images UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? ALIBABA GR HLDGS (BABA): Free Stock Analysis Report This article 'It's About A Fetishization Of Overwork Rather Than Smart Work,' Why These Tech Leaders Are Pushing Back Against '996 Work Culture' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Zawya
10-07-2025
- Business
- Zawya
Huspy secures $59mln funding to scale regional presence
UAE – Huspy, the UAE and Spain-based proptech company, has raised $59 million in a Series B round led by Balderton Capital, according to a press release. The transaction witnessed the participation of Peak XV, ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners. Huspy plans to expand into six new Spanish cities and launch business in Saudi Arabia this year, bringing its total footprint to more than 10 cities globally, including Madrid, Valencia, and Dubai. Founded in 2020 by Jad Antoun and Khalid Ashmawy, the company facilitates over $7 billion in annual real estate transactions across Europe and the Middle East. Huspy empowers thousands of real estate agents and mortgage brokers with a market-leading value proposition that covers high commissions, best-in-class technology, and robust infrastructure to serve home buyers and sellers more efficiently. Over the next four years, the platform intends to launch operations across most major cities in Europe and the Middle East. Jad Antoun, Co-Founder and CEO of Huspy, said: 'We aim to provide the best infrastructure for real estate agents and mortgage brokers, enabling them to grow their businesses and serve home buyers and sellers in the best way possible.' In May 2024, Huspy raised a funding round led by Balderton Capital to scale its business in the MENA region.
Fintech News ME
09-07-2025
- Business
- Fintech News ME
UAE Proptech Huspy Secures $59M Series B to Expand Across Europe and Middle East
Dubai-based proptech company Huspy has raised US$59 million in a Series B funding round, led by existing investor Balderton Capital. Other returning investors include Peak XV (formerly Sequoia Capital India and Southeast Asia), ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, COTU Ventures, and KE Partners. Headquartered in the UAE with operations in Spain, Huspy supports real estate agents and mortgage brokers through technology and infrastructure that aim to streamline home buying and selling. The company claims to facilitate over US$7 billion in annual real estate transactions across Europe and the Middle East. The new funding will be used to support Huspy's expansion plans in both regions, invest in product development, and hire for strategic roles. In Spain, where it currently operates in Madrid, Valencia, Alicante, and Malaga, the company plans to expand into six more cities by the end of 2025. Huspy reported that its real estate business in Spain grew more than 20-fold year-on-year in 2024. The company also plans to enter Saudi Arabia later this year, bringing its presence to ten cities globally. Over the next four years, Huspy intends to expand into most major urban markets in Europe and the Middle East. 'We are building a global business with the goal of being present in the majority of European and Middle Eastern cities. We aim to provide the best infrastructure for real estate agents and mortgage brokers, enabling them to grow their businesses and serve home buyers and sellers in the best way possible,' said Jad Antoun, Huspy's Co-Founder and CEO. 'After four years of investing in our systems, we are now able to operate with a lot of agility, allowing us to expand the business at a high growth rate for years to come.' In the UAE, Huspy is active in Dubai and Abu Dhabi, where its mortgage division accounts for more than 25% of all residential home financing in Dubai. To support its expansion, Huspy is recruiting across several functions, with a focus on technology and regional growth. The company operates tech hubs in both the UAE and Spain.
CairoScene
09-07-2025
- Business
- CairoScene
UAE Proptech Huspy Raises $59M to Expand Into Spain & Saudi Arabia
The funding will support Huspy's rapid expansion in Spain, Saudi Arabia, and other key markets, as the proptech startup scales its platform and agent network. Jul 09, 2025 Dubai-headquartered proptech startup Huspy has raised $59 million in a Series B funding round led by Balderton Capital. Founded in 2020, Huspy offers an integrated digital platform for real estate transactions and mortgage services, catering to agents, buyers, and property owners. The company currently operates in the UAE and Spain, with a growing presence in Madrid and Valencia. The latest funding will allow Huspy to accelerate its rollout in Spain, expanding its footprint to at least eight more cities including Costa Blanca and Costa del Sol. The company is also preparing to launch operations in Saudi Arabia as part of a broader strategy to become a leading proptech player in both Europe and the Middle East. To support this growth, Huspy will invest in hiring across its UAE and Spanish offices, with a focus on product, engineering, operations, and business development. The startup aims to enhance its tech-enabled services for agents while improving transaction efficiency and client experiences. Huspy reports over $7 billion in annual transaction volume and is continuing to scale its tools and networks to meet rising demand across the property sector.
Yahoo
08-07-2025
- Business
- Yahoo
Huspy raises $59 million Series B led by Balderton Capital to accelerate expansion across Europe and the Middle East
Balderton Capital and Peak XV double down on their previous investments in Huspy in its latest funding round With six new cities in Spain and a Saudi launch planned, Huspy expects to operate in over 10 cities by end of 2025 Huspy facilitates over $7 billion in real estate transactions annually in Europe and the Middle East DUBAI, UAE and MADRID, July 8, 2025 /PRNewswire/ -- Huspy ( the proptech company reshaping home buying experiences from the Middle East to Europe, today announced the close of a $59 million Series B funding round, led by returning investor, Balderton Capital, one of Europe's leading venture firms. The round also saw participation for a third time from Peak XV (formerly Sequoia Capital India and Southeast Asia), as well as ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, COTU Ventures and KE Partners. With operations in the UAE and Spain, Huspy empowers thousands of real estate agents and mortgage brokers with a market-leading value proposition: high commissions, best-in-class technology and robust infrastructure to serve home buyers and sellers more efficiently. Huspy facilitates over $7 billion in real estate transactions annually in Europe and the Middle East. The funding will support Huspy's European expansion, investment in technology and strategic hiring. In Spain, Huspy is operational in Madrid, Valencia, Alicante and Malaga, and will be launching in six additional cities by the end of 2025. In 2024, the company's Spanish real estate business achieved more than 20x year-on-year growth. This year, Huspy will also expand its Middle East presence by entering the region's largest economy, the Kingdom of Saudi Arabia, bringing its total footprint to ten cities globally. Over the next four years, the company intends to launch operations across most major cities in Europe and the Middle East. "We are building a global business with the goal of being present in the majority of European and Middle Eastern cities. We aim to provide the best infrastructure for real estate agents and mortgage brokers, enabling them to grow their businesses and serve home buyers and sellers in the best way possible. After 4 years of investing in our systems, we are now able to operate with a lot of agility allowing us to expand the business at a high growth rate for years to come" said Jad Antoun, Co-Founder and CEO of Huspy. Huspy is recognised as one of the fastest growing proptechs in the UAE, with thriving operations in Dubai and Abu Dhabi. The company's mortgage unit is the largest in the UAE, processing over 25% of all residential home financing in Dubai, one of the world's most active real estate markets. "We are pleased to renew our partnership with Huspy by leading this round. The team is building technology that modernizes real estate and mortgage businesses, allowing brokers to reap substantial efficiency gains that translate into serving more clients, better," said Rana Yared, General Partner at Balderton Capital. To support its expansion, Huspy is hiring across expansion and technology-specific roles. The company has attracted global talent from leading companies in technology and real estate, and has established tech hubs in the UAE and Spain. About HuspyHuspy is building the largest home-buying platform in Europe and the Middle East. Huspy empowers real estate agents and mortgage brokers with world-class technology, commissions and infrastructure, and provides homebuyers with seamless access to mortgages, properties and related services through technology and innovation. Photo - View original content to download multimedia: SOURCE Huspy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
