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Brazilian residential real estate platform Loft closes $175M series C round

São Paulo-based startup Loft Holdings Ltd. secured $175 million in a series C financing round co-led by Vulcan Capital Management Inc. and Andreessen Horowitz LLC.

Other investors participating in the round included QED Investors, Fifth Wall Ventures Management LLC, Thrive Capital, Valor Capital Management LLC and Monashees Gestão de Investimentos Ltda.

The digital real estate platform, which seeks to streamline the process of buying and selling residential properties, plans to expand across Brazil and Latin America and diversify into new product categories. It also aims to substantially scale its financial product lines in 2020 and to increase its workforce to more than 550 employees by the first quarter.

Loft named Juan Pablo Ramos general manager of its Mexico operations in December 2019. Ramos was the former director of regional operations at UberEats in Latin America.