Loft, which specializes in buying and selling real estate, announces on Tuesday, 24, the purchase of the real estate loan startup CrediHome, advancing in the strategy of facilitating the obtaining of financial services for the company’s customers, after obtaining CredPago, last July, and InvestMais, in September 2020.
With the acquisition, whose value has not been revealed, Loft hopes to become the “Darling” of the big banks — CrediHome is the middle of the field between people interested in buying real estate and financial institutions by offering a menu of credit alternatives, using technology to streamline the process. It’s as if the startup took the customer to the bank entrance, with the paperwork already resolved and ready to sign the loan.
“Loft and CrediHome competed in the market by simplifying processes and giving banks access to more customers, so the acquisition was a very natural process”, explains Kristian Huber, Loft founder and current vice president of business to Estadão.
Together, the two startups totaled around R$ 600 million in credit generation for secondary apartments in the last 30 days. CrediHome, founded in 2017, has generated R$ 2 billion since the beginning of this year in more than 5,000 transactions and will bring national reach to Loft, whose properties are restricted to the capitals of São Paulo, Rio de Janeiro and Minas Gerais – the company, however, it says that there is no expansion forecast at the time.
“We are happy to use technology to change the real estate market, have capital to continue investing and gain security to gain scale”, says the founder and CEO of CrediHome, Bruno Gama, who was approached by Loft in March of this year, when the startup began to raise an investment round to gain traction in the market. In the short term, the operations of both companies will remain separate.
Florian Hagenbuch and Mate Pencz are the founders of Loft, a real estate startup valued at US$2.9 billion
For specialists, the purchase has the potential to complement the purchase journey of Loft’s client, who uses the real estate startup to find properties, solve notary bureaucracies and, now, boost financing options.
“Loft gains a more complete approach in terms of real estate solutions”, explains Insper’s innovation professor Eduardo Dotta, citing that the union expands the number of transactions and strengthens the startup’s main business, which is the purchase and sale of properties. “This is a very relevant acquisition operation, it is not something trivial.”
The coordinator of the real estate business course at Fundação Getúlio Vargas (FGV), Alberto Ajzental, highlights CrediHome’s potential in accelerating the offer of financial solutions, something that could hinder the signing of a loan agreement in months, which could reach 90 days.
“In the past, those who bought property had to spend a lot of shoe soles. Today, I can do most of the services from home, and choosing the product is easier”, he observes. “Strategically, it is important that they make the purchase and sale of properties as easy as possible for the client.”
Rated in US$2.9 billion, Loft, which raised US$ 525 million in April, is surfing in the good times of the “proptechs”, the real estate technology companies.
Rival QuintoAndar (known for its real estate leasing, sale and purchase platform) last week closed a round of US$ 420 million and, this same month, announced the purchase of Atta, a startup specializing in real estate credit — and, in a way, , rival of CrediHome.
In July, another startup in the field, EmCasa, from Rio de Janeiro, raised R$110 million to boost a business model that includes algorithms and training for realtors.