Investment

Brazilian proptech Loft receives $56M to buy 1,200 new properties

LatAm ListLoft, the rapidly growing Brazilian proptech, received an investment of $56M (R$216M) in real estate funds managed by Credit Suisse Hedging-Griffo (CSHG).

Loft is a digital platform that uses real estate data to revolutionize the process of buying and selling property in Brazil. The company provides a reliable neighborhood information base that helps to match clients to their preferred property and allows them to buy, sell, and exchange apartments quickly and efficiently.

In the past year, the company has experienced a twelve-fold growth and sold more than 350 properties between September and October in Sao Pãolo alone.

The startup already raised $27.3M (R$110M) from CSHG in early 2019, bringing the total sum available for investment to $136.7M (R$550M). With this, Loft hopes to purchase a further 1,200 properties throughout Brazil.

“The funds, raised from company investors as well as Brazilian family offices, will be used to buy, renovate, and sell apartments over a two-year period,” explained Mate Pencz, CEO and co-founder of Loft.

Read more on LAVCA.

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