The complexities around the buying and selling of residential real estate has spawned a multitude of startups here in the United States. But those complexities extend beyond this country, and so do the startups out there trying to tackle them. As evidence of that, this morning, Brazilian digital real estate platform Loft announced it has closed on $175 million in Series C funding co-led by Vulcan Capital and Andreessen Horowitz (a16z). QED Investors, Fifth Wall Ventures, Thrive Capital, Valor Capital, Monashees and others, also participated in the funding.
A $175 million raise is an impressive amount for any startup, but especially one that was founded just two years ago in Sao Paulo, Brazil. Loft has seen rapid growth early, saying that it’s grown more than 10 times year-over-year to notch “over $150 million in annualized revenues in its first full year of operation” via more than 1,000 transactions. It’s also more than quadrupled its number of employees in the past year alone, growing from 100 a year ago to more than 450 today. [ Crunchbase ]