Brazilian real estate unicorn Loft secures $100M from Middle Eastern Sovereign Fund
Renowned for its innovative integration of technology to revolutionize the real estate experience in Latin America, Loft, a Brazilian real estate unicorn has secured a substantial investment as part of a structured funding endeavour that commenced in the third quarter of 2022.
Although the identity of the lead investor remains undisclosed, Loft Group emphasized that it is a "sovereign fund of the Middle East," marking its inaugural involvement in a Growth Capital raise for a Latin American technology company.
Meanwhile, in an insightful revelation, an unconfirmed report by Pipeline identified the fund as Abu Dhabi-headquartered ADQ.
The infusion of funds was complemented by noteworthy contributions from an array of esteemed entities, including notable names like Andreessen Horowitz, Altimeter, Baillie Gifford, BTG Pactual, Cercano, Citi Ventures, CPP IB, D1 Capital, DST, Fifth Wall, GIC, Monashees, QED Investors, Silverlake and Valor. Collectively, the funding coalesced into an impressive sum of approximately $100 million.
As per data from Crunchbase, the funding round propels Loft Group's total raised funds to an impressive $888 million across a span of eight rounds, underscoring its impressive journey since its launch in 2018. It was last valued at $2.9 billion in 2021.
Loft's substantial funding endeavour will serve as a driving force for the Loft Group's ambitious expansion across Brazil and Latin America. Simultaneously, it will serve as a catalyst for the development of innovative products and services, in line with the company's expansion goals.
