COURTESY: https://www.lhoopa.com
Hey there, folks! You know how sometimes you hear about something so awesome that you just can’t keep it to yourself? Well, buckle up, because Lhoopa, the groundbreaking proptech company, is making waves in the affordable housing sector. They’ve just wrapped up a massive $80 million funding round, and it’s one of the biggest in Southeast Asia this year. Let’s dive into how this game-changing startup is set to revolutionize the housing market.
First things first, let’s talk numbers. Lhoopa’s funding round isn’t just big; it’s colossal. Of the $80 million, $20 million came from equity, with heavyweights like the World Bank Group’s International Finance Corporation and Wavemaker Partners co-leading the charge. They got backing from Pavilion Capital, 10X Group, Concentric Equity Partners, UAE-based Mirath Investments, and US-based NataRock Partners Fund. These names alone are enough to make anyone sit up and take notice.
But wait, there’s more! The equity round also facilitated the commitment of $60 million in debt facilities from institutions like the Asian Development Bank (ADB) and the United States International Development Finance Corporation (DFC). This kind of 3:1 debt-to-equity ratio is pretty rare for startups, especially in the early stages. It just goes to show the incredible confidence these institutions have in Lhoopa’s vision.
So, what’s all the hype about? Founded in 2018, Lhoopa is on a mission to make affordable housing a reality for everyone, starting in the Philippines. They leverage data and technology to develop homes on a large scale, engaging stakeholders through a decentralized approach. In simpler terms, they’re using smart tech to make sure everyone has a roof over their heads without breaking the bank.
With their new capital, Lhoopa plans to expand not just within the Philippines but also to other emerging markets. They’re also looking to beef up their tech capabilities to better support their partners. Plus, they’re hiring more executives, senior managers, and product developers. Basically, they’re gearing up to take over the world of affordable housing, one home at a time.
Let’s give a shoutout to the brains behind this operation. Marc-Olivier Caillot, the founder of Lhoopa, sees this funding as a pivotal moment for the company. He’s all about creating a paradigm shift in real estate, using technology and local partnerships to deliver quality, affordable homes quickly and efficiently. With a dream this big, it’s no wonder investors are lining up to support Lhoopa.
Sabrina Tan, the president and co-founder, echoes this sentiment. She’s passionate about solving the problem of affordable housing and providing financial growth opportunities to local partners. With this funding, she’s more determined than ever to bridge the housing gap in emerging markets. It’s clear that with leaders like Marc and Sabrina, Lhoopa is in good hands.
The impact of Lhoopa’s work is already being felt. They’ve sold over 2,500 affordable houses in 58 cities across the Philippines and expanded their team from 30 to 95 employees. But they’re not stopping there. They aim to provide over 15,000 affordable homes in the next three years. Talk about setting ambitious goals!
Their investors are equally excited about what the future holds. Jean-Marc Arbogast from the IFC believes this new partnership will help close the gap in affordable housing and promote inclusive development. Paul Santos from Wavemaker Partners sees Lhoopa as solving a long-standing problem that’s only going to get worse if left unaddressed. With a backlog of over 6.5 million affordable homes in the Philippines alone, Lhoopa’s work is more crucial than ever.
Lhoopa isn’t just about building houses; they’re about building communities and changing lives. Their vision for the future is clear: to revolutionize affordable housing across Southeast Asia. With their new funding, they’re poised to exceed their goals and set new benchmarks in both affordable housing and technological innovation.
So, if you’re as excited as I am about what Lhoopa is doing, why not join them on this transformative journey? Whether you’re a potential partner, investor, or just someone who believes in their mission, there’s a place for you in this revolution. Together, we can redefine the real estate landscape and uplift communities across Southeast Asia.
In conclusion, Lhoopa’s massive funding round isn’t just a milestone for the company; it’s a beacon of hope for millions of families in need of affordable housing. With their innovative approach and unwavering commitment, Lhoopa is set to make a lasting impact on the world. So, here’s to Lhoopa and a brighter, more affordable future for all!
