Legal: FlareAgent Inc.
Location: Brooklyn, NY
Industry – Residential Real Estate Market
Size: $31.8T in 2017 (Source: Zillow)
Hutsy combines a technology platform and in-house real estate expertise to provide potential homeowners a simpler, cheaper, and more delightful way to buy a home.
Hutsy is a platform that pairs potential homeowners with their expert in-house broker to guide them through the process of buying a house step-by-step, with online and in-person support. Hutsy brokers and the online support system will assist buyers from identifying ideal properties, making offers, and closing the deal. They take responsibility for converting a pre-approval letter from a certified mortgage lender in the city, into an all-cash offer, at their costs so that their clients can buy a new home for cheaper and faster with an all-cash offer and the best brokers.
Origin and Founding Team
Rashid and Abhiroop met while pursuing their degree in Integrated Media at the New York University Tandon School of Engineering. Abhiroop joined Rashid’s start-up Sophire, a multimedia consultancy platform, as a co-founder in September 2017.
The seed for Hutsy was sowed when the duo was building software for real estate brokerages. This software managed over 2500 transactions, and processed over $600 million dollars in property. The experience exposed them to several problems within the residential real estate industry – the process was convoluted, opaque, and incentives were misaligned. To cover these gaps and to positively impact the industry, Abhiroop and Rashid decided to create Hutsy.
Performance and Trends
As of August 2019, Hutsy has raised $150,000 from Y Combinator.
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