Duppla, the Colombian rent-to-own proptech, announced on 29 July 2026 USD 60 million in debt and equity in a deal led by Patria Investments. It matters because it is Patria’s first venture investment in Colombia and because it combines in a single closing the equity for the platform and the funding to buy homes.
The transaction
The total amount is USD 60 million; the split between debt and equity was not disclosed, nor was the valuation. Patria Investments leads; Skandia Planeación Financiera, Cometa, Grupo Pegasus and Nazca participate, along with other unnamed local and international investors. Stated use of proceeds: increase financing capacity, expand the residential investment platform and grow across Colombia starting with Medellín.
Duppla, founded by Cristian Villamizar and Felipe Fierro, buys the home the customer chooses, rents it under a purchase agreement exercisable within five years and finances up to 85% of the value with a down payment from 15%, against about 30% at traditional banks. Rental cash flows are securitised and packaged into products for institutional investors. It reports more than 300 families served in Bogotá and nearby municipalities, a target of 1,500 by the end of 2027, 12 portfolios, approval in about five days and 64% of customers who are independent workers and young families. In 2023 Skandia acquired 90% of a Duppla residential portfolio. The company does not operate in Mexico.
Value drivers
Two balance sheets in one closing. The model requires equity for the platform and debt to buy houses. In our reading, the undisclosed mix points to most of the amount being asset funding, with equity a smaller fraction for operations and technology.
Proven securitisation. The sale of 90% of a portfolio to Skandia in 2023 showed that rent-to-own cash flow can be placed with an institutional investor. That precedent is what a financial sponsor like Patria needs before committing debt.
A segment outside the banks. With 64% of customers being independent workers and young families, in a country where only 3% of adults hold an active mortgage according to Startups Latam, this is a market banks do not serve for lack of income documentation; the 15% down payment is the product.
Patria’s first venture deal in Colombia. A regional alternative asset manager choosing a housing proptech as its first venture bet in the country sends a signal of sector thesis, not opportunism.
Investor continuity. Skandia returns after buying a portfolio in 2023. In our reading, that continuity lowers the execution risk perceived by the new lead and by the funds joining the round.
What the market is signalling
For Mexico, the signal is that rent-to-own with securitised cash flows now obtains mixed funding from a regional financial sponsor. Mexican comparables in rent-to-own, down-payment financing and housing for independent workers have a reference for structure and size, and the round’s syndicate includes funds that invest across the region.
For lenders, the deal confirms that rent-to-own cash flow is accepted as a securitisable asset. For founders, it indicates that the first sale of a portfolio to an institutional investor is worth more for a later round than any origination projection.
G2’s reading for a mandate
An equity mandate for a housing proptech with its own balance sheet in Mexico is prepared with two parallel processes and one closing: the equity with funds that understand the asset model and the debt with institutional investors that have already bought a portfolio. In our reading, closing a small portfolio sale first, even to a single buyer, is the best preparation for the mixed round.
Sources
- LatamList, 31 July 2026: Duppla raises $60M to expand alternative home financing in Colombia
- Startups Latam, 3 August 2026: Duppla levanta US$60 millones para escalar el rent-to-own y acercar la vivienda a quienes deja fuera la banca tradicional
- Ecosistema Startup, 30 July 2026: Duppla levanta US$60M: rent-to-own para founders proptech