LatamList – Loft, the Brazilian proptech, announced a $100M extension round to the $425M Series D raised last month. The extension round was led by Baillie Gifford and included Tarsadia Capital, Flight Deck Capital, Caffeinated Capital, among others.
Loft operates a âone-stop-shopâ for home buying and selling. The startup buys, renovates, and manages properties in 130 regions across SĂŁo Paulo and Rio de Janeiro in partnership with 30,000 brokers. The platform also offers insurance, renovation, and rental services to customers.
Over the past year the startup has experienced huge growth, more than doubling its valuation and increasing the number of listings on the platform by 10 to 15 times. Increasingly, Brazilians are looking to buy properties rather than rent, and Loftâs digital platform makes the process much easier.
The Loft founders decided to extend the Series D after âoverwhelming investor interestâ during the initial round.
âWe have seen a continued acceleration in our market share growth, especially in SĂŁo Paulo and Rio de Janeiro, the two markets we currently operate in,â said Mate Pencz, co-founder and co-CEO. âWe saw an opportunity to grow even faster with additional capitalâ.
The extension round brings Loftâs total funding to $800M with a valuation of $2.2B. Loft plans to use the funding to expand operations in Brazil and eventually across Latin America.
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