, a Latin-America-based digital real estate platform, announced on Friday it secured $175 million through its Series C funding round, which was co-led by Vulcan Capital and Andreessen Horowitz with participation from QED Investors, Fifth Wall Ventures, Thrive Capital, Valor Capital, and Monashees. Founded in 2018, Loft claims its digital platform simplifies the purchase and sale of apartments by bringing improved organization data and efficiency to the residential real estate market.
“By combining real transaction data with a proprietary machine learning model, Loft is able to price every apartment in its markets at the unit level, increasing liquidity and transparency for buyers and sellers.”
Loft Founder and Co-CEO, Mate Pencz, shared more details about the investment round:
“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.”
Since its launch, Loft has raised approximately $275 million in equity capital. Alex Rampell, General Partner at Andreessen Horowitz, went on to add:
“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. 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.”
