Brazilian proptech startup Loft valued at nearly $3B

Investors include Fifth Wall Ventures, D1 Capital Partners, Tiger Global

National Weekend Edition /
Apr.April 25, 2021 09:00 AM
Loft co-founders Florian Hagenbuch and Mate Pencz (Endeavor, iStock)

Loft co-founders Florian Hagenbuch and Mate Pencz (Endeavor, iStock)

Brazilian real estate platform Loft has added another $100 million to a $425 million Series-D fundraising round that closed last month — bringing the firm’s valuation to an estimated $2.9 billion, according to TechCrunch.

The additional funding makes it one of the largest ever fundraising efforts by a Brazilian startup.

New York-based D1 Capital Partners led the initial round, joined by Fifth Wall Ventures, DST, Tiger Global and several other investors.

Baillie Gifford led the supplemental round and was joined by Tarsadia Capital and Flight Deck, among other firms. Individual investors include the founders of Instacart and Sweetgreen.

Loft functions much like Zillow or Redfin and offers additional services to assist with the buying and selling process. It was founded in 2018, and around 30,000 brokers work on the platform.

Co-CEO Mate Pencz said the number of listings on the platform increased tenfold last year, and it now has around 13,000 listings in São Paulo and Rio de Janeiro. The firm plans to use the money to further grow its market share in those cities.

Fifth Wall has been busy this year. The VC firm recently founded its third SPAC of the year, and SmartRent announced this week it would merge with one of those blank-check firms in a deal valued at around $2.2 billion.

[TechCrunch] — Dennis Lynch 

 

Related Articles

arrow_forward_ios
The property on 73rd Street formerly owned by Grace Kelly. (Getty, StreetEasy)
UES townhouse rumored to have been owned by Grace Kelly sells for $25M
UES townhouse rumored to have been owned by Grace Kelly sells for $25M
Firefighters battling a 11-alarm fire at a chemical plant in Passaic. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)
Bergen County residents told to close windows after fire at chlorine plant
Bergen County residents told to close windows after fire at chlorine plant
1428 N Genesee Drive and Freddie Krueger (Realtor, Wikimedia)
‘A Nightmare on Elm Street’ home sells for $3M
‘A Nightmare on Elm Street’ home sells for $3M
Discovery at West Road on 9404 West Road, Houston and Haven at Eldridge on 13115 Whittington Drive and McCann Realty Partners Matt Akin (Pegasus Residential, McCann Realty Partners)
McCann Realty Partners swings two Texas multifamily deals
McCann Realty Partners swings two Texas multifamily deals
(Illustration by The Real Deal)
More than 14K LI residents in mortgage delinquency
More than 14K LI residents in mortgage delinquency
9811 Copper Creek Drive, Austin with Tides Equities’ Sean Kia and Ryan Andrade (Tides Equities, Google Maps)
Tides Equities snags another Texas multifamily property
Tides Equities snags another Texas multifamily property
Liz Nunan, ceo, Houlihan Lawrence (Houlihan Lawrence, iStock)
Lower Hudson Valley notched home sale growth in 2021
Lower Hudson Valley notched home sale growth in 2021
 Winzone Realty's Ben Pan and Keller Williams' Marc King (Winzone Realty, KW)
These are Queens’ top brokerages by agent headcount
These are Queens’ top brokerages by agent headcount
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...