What are unicorn companies: Habi and Rappi, two Colombian models

What are unicorn companies: Habi and Rappi, two Colombian models
Founders of Habi
Founders of Habi

In recent days, Colombia was a trend with the news that Habi became the second unicorn in the country after Rappi in 2018. All this happened in the so-called series C financing round, where with an investment of 200 million dollars, Habi reached the sum of 1,000 million dollars, thus reaching the category of unicorn, a recognition that is currently highly desired by technology startups.

Habi is a company registered in Colombia, belonging to the Proptech group, businesses in the real estate sector that implement technological innovations in their processes. In this case, the startup promises to reduce trading processes to just 10 days.

The so-called Proptech began operations in 2019, when the first home sales were made in the country’s capital and by 2020, in the midst of the pandemic, it had already extended its operations to different cities in Colombia. By 2021, he was already buying and selling properties in Mexico.

Currently, it has made alliances with the Ministry of Housing to streamline mortgage and deed processes, digitizing them so that they can be processed online. Also, it has reached agreements with the main banks to make access to housing loans easier.

What is a unicorn company

Unicorn companies are based on technological development, try to attract large amounts of money through external investors such as the so-called angel investors and at a very high risk. Likewise, its greatest characteristic is the ability to grow in a very short time, acquiring a value of one billion dollars or more.

It was the founder of the fund that invests in emerging technology companies, Cowboy Ventures, Aileen Lee who invented and popularized this category of companies, since as a fantastic and remote animal to come across, in the business world it is very strange and even unlikely that A company reaches the value of 1,000 million in 5 years.

Due to the above, the analyst Fernando Morilla García, in his article, The park of “unicorn companies” says that “the difficulty in achieving unicorn status is evident”, however. Those who aim to implement technological innovations in their business ideas are more likely to become unicorns. And these are the characteristics that emerging companies that seek to be should have:

– They are not listed on the stock market and are financed by private capital.

– They are technology projects that seek to transform relationships with end customers (B2C)

– Social networks are crucial during your promotion.

Likewise, an important part of this type of technological undertakings are the investment rounds to which its founders go to raise money to finance the initiativesyes It usually has three phases. in the first, money is raised to start the project, in the second, when the first profits are already generated, large amounts of money are received and the last phase is when private investment funds inject more than 50 million into the business of dollars.