Habi, a Bogota-based proptech has bagged a $6.3 million credit facility granted by Bancóldex, a Colombian state-owned bank that promotes business development.

This credit line comes less than a year after the startup earned its unicorn status after closing on $200 million in a Series C funding round co-led by Homebrew and SoftBank Latin America Fund in May 2022.

With the new facility, the Colombian proptech Habi is now estimated to have almost $400 million in funding.

The company says it plans to use the credit to strengthen its operations and portfolio in Colombia as it looks towards a prospective IPO in 2024. The startup has already committed to spending more than $250 million to buy houses in Colombia in the coming months.

Habi digitizes the process of buying and selling properties, buying the property quickly for those who sell and assisting in obtaining a mortgage for those who are buying one. The startup currently runs its operations in Colombia and Mexico.