LatAm property tech unicorn Tuhabi lands $50 million credit line from development bank

Tuhabi co-founder and president Sebastian Noguera, co-founder and CEO Brynne McNulty Rojas and Chief Financial Officer Marcos Kantt pose for a photograph in this undated handout image obtained by Reuters on June 1, 2023. Tuhabi/Handout via REUTERS

MEXICO CITY (Reuters) - Latin American property technology startup Tuhabi is set to receive a $50 million credit line from the Inter-American Development Bank's (IDB) financing arm, which it will use to ramp up operations in Mexico, the company said Thursday.

The funds for the so-called unicorn, a startup with a valuation over $1 billion, follow a $100 million credit line from Victory Park Capital it announced last month - even as funds for startups, particularly in Latin America, are increasingly running dry.