Brazilian startup Loft raises $165 million from Andreessen Horowitz - Business Insider

for buying and selling homes. While he says that he was initially unfamiliar with the Latin American market, he became convinced that the Opendoor model could work elsewhere, if left to the hands of a local startup like Loft.

That's why Rampell led Andreessen Horowitz's investment in Loft's $20 million Series A round in 2018 — and why he feels confident enough in Loft's momentum to lead this round, too. "When we invested in Loft, it was just a PowerPoint in a market we didn't understand," Rampell told Business Insider. "But I saw what Opendoor was doing in the United States and it felt obvious that this could work in a country like Brazil. If they can execute on that model there, it will be better than Opendoor for a number of reasons."Among those reasons is the sheer size of the potential market opportunity, Loft founder and co-CEO Mate Pencz said.

A part of that popularity is because US-based real estate sites often require users to comply with American rules and regulations when buying and selling home. Loft, being based in Brazil, only has to follow the local rules. That's helped consolidate the domestic real estate market, especially for house-flippers, under its own banner.

"There are entire shows on the Home and Garden TV network about that kind of thing," Rampell said. "If you have an ugly house in a nice neighborhood, someone will buy it because they think they can sell it and fix it up. Lots of entrepreneurs in the United States do that, and Loft makes that available to Brazilians in Sao Paulo."And that's part of the appeal of investing in emerging markets, Rampell said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Register now for Business Insider's event on the future of retail - Business InsiderBusiness Insider is hosting its first Ignition event on the future of retail on January 14, 2020, in New York City. Where is the location ?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Pharma companies raising prices for hundreds of drugs to start year - Business InsiderPharma companies are raising prices for hundreds of drugs to start the year, including common treatments for cancer and HIV (via axios)
Source: BusinessInsider - 🏆 729. / 51 Read more »

Former Google exec says he was pushed out after raising human rights concerns - Business InsiderFormer Google exec says he was 'sidelined' as the company refused to implement human rights policies while pushing into China antichinazi China70YearsOfShame autitotalitarian antiCCP See? Human rights violation is no longer a problem within China only. It has already spread to the free world bc no one even tried to stop China before. StandUp4HumanRights Always intervening international business and tried to trapped them with RMB, this is all tactics that CCP could do.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Bernie Sanders ends 2019 with a massive $34.5 million fundraising haul - Business InsiderThe Vermont senator on Wednesday said his campaign has received 5 million individual contributions. please stop giving this man money I love how the media ignores Bernie in this article it’s almost like he is the only candidate that gets no fair coverage 😂 Go get em' Bernie.
Source: BusinessInsider - 🏆 729. / 51 Read more »

A 'cave house' in Arizona is on the market for just under $1 million - Business InsiderA 'cave house' blasted into the side of a mountain in Arizona is on the market for just under $1 million. Here's a look inside. This is stunning and I want it.
Source: BusinessInsider - 🏆 729. / 51 Read more »