Duppla Secures $60 Million to Boost Alternative Home Financing in Colombia

Duppla's Latest Funding Round

Bogotá-based Duppla, a company facilitating non-traditional paths to homeownership, has successfully raised $60 million in its latest funding round. This round was spearheaded by Patria Investments, with participation from Skandia Planeación Financiera, Cometa, Grupo Pegasus, and Nazca. Duppla, founded by Cristian Villamizar and Felipe Fierro, is focused on providing homeownership opportunities for families who struggle to qualify for traditional mortgages due to factors like informal income or limited savings.

Innovative Homeownership Model

Duppla offers a unique model where the company purchases a home selected by the customer and rents it to them. The family then has up to five years to complete the purchase. This approach allows customers to enter the program with a 15% down payment, bypassing the need for a perfect credit history or conventional bank loans.

Use of Funds

The newly acquired capital is set to enhance Duppla's financing capabilities and expand its residential investment platform. A significant portion of the funding will be directed towards expanding Duppla's services beyond Bogotá, starting with Medellín. This expansion aims to widen the reach of their innovative homeownership model, helping more Colombian families achieve homeownership.

Impact and Future Plans

Since its inception in 2022, Duppla has assisted over 300 families in purchasing homes in Bogotá and surrounding areas. The company also operates a residential investment platform that converts rental income into investment products for institutional investors. With the new funding, Duppla plans to increase its impact and offer more families the chance to own homes in Colombia.

Duppla's co-founders, Cristian Villamizar and Felipe Fierro, are optimistic about the future, aiming to lead a shift in how homeownership is approached in Colombia. Their innovative model not only provides a solution for families with non-traditional financial backgrounds but also presents a new investment avenue for institutional investors.