Contxto – Brazilian real estate startup Loft is making its fourth acquisition. Last Thursday (24) the proptech announced it bought fintech Invest Mais for an undisclosed amount.
Founded in 2017, Invest Mais operates as a mortgage broker and has reportedly made one thousand loans a year. Moreover, according to Loft, the aggregate volume Invest Mais has financed amasses to around R$1 billion (~US$180 million) a year.
And to scale up Loft’s own services for property buyers, the fintech and its loans are a crucial part of the plan.
“This acquisition will allow Loft to expand the offer of facilitated and unbureaucratic financing,” says Mate Pencz, co-Founder and co-CEO at Loft.All you need to know about Latin America's business and tech news in your inbox!First NameRichardYour firstname.lastname@example.orgTry it!
Brazilian Loft is all in for buying, selling, and renovating apartments while using technology to bring in accurate data and speed to an otherwise clunky process.
If you check out the startup’s previous acquisitions, you’ll find them to be somewhat varied in nature. They all however comply with Loft’s goal of making the real estate experience easier on the user.
In November of last year, Loft bought Decorati, an apartment remodeling business. Then, in early 2020, it acquired Spry, a startup specializing in market research. In July it went on to snag Uotel, a platform for subleasing apartments for flexible amounts of time.Invest Mais for a faster experience
But hey, sometimes you can’t afford that pretty apartment Loft or a third party vendor is selling. In which case users will visit a traditional financial institution whose bureaucratic processes will inevitably slow down the deal.
So to speed things along, its acquisition of Invest Mais was the natural choice.
It’s worth pointing out however that Loft had already begun serving up loans with real estate serving as collateral in May.
The startup’s next stop are likely insurance-related products. This is a vertical the startup had announced it was interested in addressing when it closed US$175 million with Andreesen Horowitz and Vulcan Capital earlier this year.
Industries aside, where will Loft go next? Reportedly, it should launch into Mexico later this year.
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