Valued at nearly $3 billion after a $425 million Series D last year, Loft is one of the unicorns in Brazil that are ready to IPO in the US markets. The co-founder of Loft, Kristian Huber, told Bloomberg Línea that even though the company has governance and compliance all aligned for the IPO, the company can fundraise within the private market and there is no hush to go public now. He didn’t comment if the firm is targeting any valuation or the option for NYSE or Nasdaq.
These three letters (IPO) was the talk for some of the execs during Itaú's tech founders summit, held in Sao Paulo this Thursday. Huber presented a panel about the ecosystem alongside Miguel Rodrigues, Creditas’ CFO. Creditas has a valution of nearly $4.8 billion and also paves its way to ring the bell.
Talking about Loft and Creditas’ recent startups acquisitions, the duo said it’s important to align culture and equity. “We need everyone feeling like they own the company”, said Huber.
According to Rodrigues, Creditas’ recent acquisitions and business units allowed the company to reduce customer acquisition cross and enhance cross-sell. “Our main competitors today are the largest banks”, said Rodrigues.
Earlier at the event, Itaú's CEO Milton Maluhy Filho said the bank is preparing a venture capital fund, and former Redpoint eventures Anderson Thees and Manoel Lemos will join Cubo (Itaú's startup hub) leader Pedro Prates in this new venture.