Alex Lofton is an African American Businessman. Alex was born in Pacific Northwest and grew up in Seattle.
Early Life
Alex’s mother was a 4th-grade school teacher, and his dad was a social worker. His family could not afford to own a home until his grandmother died and left them one. Alex and his family were able to start creating their own fortune as a result of this intergenerational wealth transfer. But many people can’t go to “the bank of mom and dad” when they want to buy a home, says Alex. And this prohibits a substantial number of people from ever becoming homeowners, a group that continues to grow as housing prices continue to increase.
“It’s important for folks to realize that they may have more resources and assets at their fingertips to become home buyers and have a stronger sense of financial security than they realize.”
His entrepreneurial journey started long before he knew the concept of a business plan. Furthermore, he did not realize it at the time however even his earliest experiences in childhood gave him the background and the understanding of a problem. Ultimately allowing him to address the problem which led him down the entrepreneurial path.
“Being customer journey or customer experience focused is about not just the moment in the customer journey, but also what’s going to make it sustainable. What’s going to make it scalable and how do I hold all the different interests in mind at the same time?”
He grew up amongst extremely hard-working people who received and seized opportunities. These opportunities were given to his siblings as well as himself. Furthermore, his parents sacrificed a lot for him and his siblings growing up. Despite being a public school educator, 4:30 a.m. meant the front door clicked shut as his mom scurried off to the paper route she took on as a second job to pay the bills. Before eventually becoming a social worker, his dad would shimmy into the bright yellow Chevy Caprice taxi cab parked outside our apartment, and then hoist his casted broken foot onto the passenger seat to make sure not a day was lost.
Education
Alex Lofton graduated high school in 2003 and was the founding president of the black student union. He then went on to study post-secondary at Northwestern University (2003-2007) with a bachelor’s degree in political science as well as global health. He also has done multiple studies abroad programs in his degree such as at the University of Stellenbosch (2005), which is a university in South Africa he gained experience in studying public health. Along with Tsinghua University (2014), located in China, he focused on doing business in and with China. He then went on to pursue a Master’s at Stanford University in Business Administration (2013-2015).
Early Career
Alex believes in the productive potential of design, compassion, and digital technology. He was one of the early employees on President Obama’s 2008 campaign and ran field operations for growing states. He has the mobilizing mindset of many professional organizers. As such his first job out of college was as a campaign organizer for senator Barak Obama’s first presidential bid. It, as a result, mobilized him to go beyond simply being a mindset to then being a real-world toolset. He also got the chance to work with Marshall, and his apprentices Joy Cushman and Jermy Bird, during this campaign. Furthermore, as a former startup executive, he worked to get poor folks good jobs in a greener economy, and he designed communication strategies for England’s National Health Service, Airbnb, and Lyft. Alex got his start in real estate at developer Forest City.
Landed
Alex is the co-founder of Landed Inc. which helps essential professionals like teachers, healthcare providers, and local government employees put a down payment on a house. Landed helps people in the most expensive metro markets ie Washington, Seattle, Denver, Los Angeles, Honolulu, etc.
“We founded Landed in 2015 to uphold those who uphold us: our educators, healthcare workers, and first responders. In expensive cities, high land prices make it difficult for many individuals to become the long-term residents our communities depend on. If we want stronger schools and safer communities, we need to support those who make it possible. ”
Landed has raised 53.1 million dollars, and has over 96 employees across America. At the most recent fundraiser on September 15, 2021, they raised 31 million dollars, at the early stage venture. They had 7 investors and 6 partner investors. Series B was led by Learn Capital and Navitas Capital with the participation of new investors First American and MassMutual ventures.
“It takes time to build. To get the product right. To focus on the people you want to serve, build real deep value, and then figure out how to operationalize and scale that. But once you start, once you get to that point the fruits of your labor really are there for you to gather”
Philanthropy and Awards
A proud product of Bellevue Public Schools Believes that valuing Black lives isn’t zero-sum. In his free time, he likes to take time outdoors, playing the ‘funcle’ (fun-uncle) role, and dancing.
“I think for a lot of people there’s a social myth out there that, “I’ve chosen this profession to be a teacher and support my community. That means I won’t ever be a homeowner or be financially secure. I just have to sacrifice that sense’’. For a lot of people, that’s less true than you think. If nothing else, we always encourage people to just reach out to us and talk to one of our teammates about what it takes to be a homebuyer, because I think people end up being a lot closer to it than they would ever expect. And just a little bit of motivation or perspective goes a long way to being able to do that, either next month or in a few years. But it’s worth recognizing that you may be closer than you realize.”
In his high school years at Sammamish High School, Lofton was recognized for his outstanding achievements in academics and dedication to his community. He received the Award for Academic Excellence and Community Dedication, which acknowledged his hard work and commitment to making a positive impact in his surroundings. This recognition served as a foundation for his future endeavours and inspired him to pursue his passion for social entrepreneurship and community development. Later on, he went on to earn prestigious scholarships and fellowships, including the Social Entrepreneurship Fellow and Social Entrepreneurship Scholar, which were associated with Landed, a company that he co-founded. Additionally, he was recognized as the Professor Joseph G. Fucilla Scholar and the William H. Mellick Scholar while attending Northwestern University, where he also received the Jonah Richman Recruitment Scholar award from the Inter-Fraternity Council. These accolades reflect his outstanding leadership qualities and his commitment to making a positive impact in the world.
Alex Lofton is part of our Black Founders50 Series. Download the complete 2023 BBVA Founders50 list here.