Brazilian proptech Loft recently raised R$216 million (around US$52.7 million) for its real estate fund Loft I FII. The round and fund are under the management of Credit Suisse Hedging-Griffo.
Loft will use these funds to purchase and then resell over 1,200 apartments in São Paulo within the next two years. Albeit this will depend on the housing market’s behavior.
This startup from São Paulo offers a platform to facilitate the real estate life cycle for everyone involved. Homeowners can quickly and transparently sell their property on it. Meanwhile, buyers benefit from ready-to-live-in spaces.
Founded in August of last year, Loft began operations in São Paulo. Users can find properties managed by the startup throughout 16 of this city’s neighborhoods. However, expansion plans are in the works for this proptech. It expects to launch soon in Rio de Janeiro as well as three other Brazilian cities in 2020.
Moreover, there’s talk of someday arriving to Mexico City. For that purpose, it’s been reported that Loft has hired Juan Pablo Ramos from Uber Eats in Latin America. Although this may take some time as it’s still “an embryonic operation,” according to the startup’s CEO, Florian Hagenbuch.
Read more here
Join us February 26-27 for the Property Portal Watch Conference Bangkok 2020.