Meet Lhoopa! This Philippine startup makes it accessible for people to own affordable housing in Southeast Asia. And they’ve started with the Philippines.

Founded in 2018, they’ve just raised $80M.

Investor check. The $20M equity round was co-led by the World Bank Group’s International Finance Corporation and Wavemaker Partners. Pavilion Capital, 10X Group, Concentric Equity Partners (CEP), Mirath Investments, NataRock Partners Fund, as well as existing investors Patamar Capital and Tekton Ventures.

• Steve Melhuish (co-founder, PropertyGuru Group and Founding Partner, Wavemaker Impact), Black Kite Capital, and Ron Hose (co-founder, Coins.ph).
• The $60M in debt facilities came from development finance institutions like the Asian Development Bank (ADB) and the United States International Development Finance Corporation (DFC), and Lendable.

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😰Not enough

Why it matters. The Philippines has an affordable housing backlog of over 6.5M, projected to reach 22M by 2040.

• It’s a global problem, partially because companies tend to focus on building luxury real estate since it makes more money.

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🏠 A new home in 6

They make it possible for you to get your own home for as low as $51.45 (PHP 3,000) a month!

• The numbers. Properties are between $8,575 (PHP 500,000) and $34,303 (PHP 2,000,000) and you’ll access better terms through their partners.
• Fast. Turnover is as quick as 6 months, and you’ll get a finished unit.

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🤝🏼 All in one place

Here’s where Lhoopa comes in! They use machine learning and AI to analyze market trends and send viable properties to partner local brokers, notaries, and contractors.

• The properties on the platform can be bought, renovated, or built up by potential buyers.
• Impressed? No wonder they’ve built and sold over 2,500+ affordable houses in over 58 cities in the Philippines!

For brokers: Find buyers from existing listings in real-time through the app that also facilitates commission payments.

For contractors: Easily update the head office with the construction progress by uploading pictures and videos.

For notaries: Grow as a notary by building facilitating client transactions.

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💰 What’s with the $$$?

They’ll double down on the Philippines and enter new markets. Oh, and they’ll improve their tech to support partners better, and they’ll be launching their green housing options!

• They’ll also be hiring more executives, senior managers, and product developers.