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Brazilian Digital Real Estate Firm Loft Buys Mexican Startup

Oct. 29, 2021, 1:00 PM

Digital real estate platform Loft Holdings Ltd., whose founders met as junior bankers at Goldman Sachs Group Inc., purchased a Mexican startup, kicking off its Latin America expansion.

Loft, which was valued at $2.9 billion at a private fundraising earlier this year, purchased Mexico’s TrueHome in a cash-and-equity transaction, Loft’s chief executive officer, Mate Pencz said in an interview. Similar to Loft, TrueHome is a tech-enabled real estate broker, which buys and sells homes using e-commerce-like tools. But while Loft has grown focusing on major cities in Brazil, TrueHome has targeted Mexico.

“We had been looking at expanding ...