Brazil‘s digital real estate broker Loft announced the acquisition of CrediHome, a startup that intermediates deals between large banks and real estate agents and companies that serve customers in search of real estate financing. Loft did not disclose the terms of the deal but stated that by integrating CrediHome’s operations, the two companies have already originated more than BRL 600 million per month in real estate financing.
With the acquisition, Loft follows a strategy similar to that adopted by its rival QuintoAndar, of boosting the real estate credit vertical through partnerships with local real estate agents and brokers. A few weeks ago, QuintoAndar announced the acquisition of Atta, a real estate credit company that operates a network of franchisees.
READ ALSO: Four months after Series A, Brazil-based fintech Cora raises $116 million
According to Loft, the deal will allow the expansion of the real estate loan offering beyond the Rio-Sao Paulo area, since more than half of CrediHome’s operation is in other regions.
“The acquisition will allow Loft to expand its financing offering to a larger volume of people, uniting CrediHome’s market knowledge with the technology DNA of both companies,” explained Mate Pencz, founder and co-CEO of Loft.
READ ALSO: Brazil’s Pravaler raises BRL 176 million in credit rights to finance Brazilian students
Founded in 2017, CrediHome operates in the origination and provision of real estate financing, offering customers financial advisory services, quotation and preparation of documentation and obtaining credit, through partnerships with banks.
In addition, the startup works together with other real estate companies, brokers and specialized consulting firms, which use the startup‘s system to offer more customized credit products.
READ ALSO: MovilePay raises BRL 180 million for iFood to expand credit to restaurants
According to Loft’s disclosure, CrediHome has already originated more than BRL 2 billion in financing in 2021 only, from more than 5,000 operations. The aggregate volume of financing currently originated by Loft and CrediHome is more than BRL 6 billion per year.
The founders of CrediHome, as well as the fintech‘s team, will now be part of Loft, maintaining the service to its partner real estate agencies and consulting firms. The CrediHome team will continue serving its partners and stakeholders unchanged, with the acquisition.
