Latin American Real Estate Startup Loft Raises USD 175 Million in Seriec C Funding

The Latin American residential real estate market offers opportunities worth USD 6 trillion, but lacks data transparency and a consolidated marketplace. As a result, the market is hindered by low quality and redundant listings, high asking prices, and exceedingly long selling time, making the experience a painful one for buyers, sellers, and brokers.

FREMONT, CA: Latin America-based digital real estate platform Loft raises USD 175 million in a Series C funding round co-led by Vulcan Capital and Andreessen Horowitz, with participation from QED Investors, Fifth Wall Ventures, Thrive Capital, Valor Capital, Monashees, and others. Headquartered in Sao Paulo, Loft provides a platform to simplify the process of buying and selling residential real estate. The Latin American residential real estate market offers opportunities worth USD 6 trillion, but lacks data transparency and a consolidated marketplace. As a result, the market is hindered by low quality and redundant listings, high asking prices, and exceedingly long selling time, making the experience a painful one for buyers, sellers, and brokers.

“We’re aiming to reinvent the way people move homes by building the most consumer-focused real estate marketplace,” said Loft founder and co-CEO Mate Pencz. “Our latest round of funding, which includes several previous investors and new ones, shows that global growth investors recognize the massive market opportunity in residential real estate across emerging markets and are confident in the long-term viability and scalability of our tech-enabled platform to power real estate transactions efficiently.”

Loft was founded in 2018 by a group of serial entrepreneurs and experienced executives, including Founders and Co-CEOs Mate Pencz and Florian Hagenbuch. Since inception, the company has raised USD 275 million in equity capital from angel investors like Max Levchin of PayPal, Joe Lonsdale of Palantir, Mike Krieger of Instagram and David Vélez of Nubank, global venture capital investors such as Vulcan Capital, Andreessen Horowitz, Fifth Wall Ventures, QED Investors and Thrive Capital, and local funds such as Monashees, Valor Capital and Canary. Loft's digital platform simplifies the purchase and sale of apartments by bringing improved organization, data, and efficiency to the residential real estate market. Their combination of actual transaction data and a proprietary machine-learning model allows them to price every apartment in its markets at the unit level, increasing liquidity and transparency for buyers and sellers.

“Loft’s exponential growth over the past year makes it clear that there is a massive need in the real estate industry for more transparency and efficiency,” said Alex Rampell, general partner at Andreessen Horowitz. "We see Loft's technology-enabled approach as a significant investment opportunity, particularly in rapidly-growing emerging markets like Latin America, and we’re thrilled to be expanding our funding to help bring the company’s innovative platform to more markets across the region.”

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