Casavo, the Milan-based proptech scale-up revolutionizing real estate transactions, has successfully raised €20 million in its latest funding round. This significant investment, finalized in March 2024, was spearheaded by UniCredit, with contributions from prominent investors including Exor NV, Project A Ventures, Neva SGR, and 360 Capital.
The new funding, an extension of Casavo’s 2022 Series D round, will bolster the expansion of Casavo’s Marketplace business. This follows the company’s continued partnership with UniCredit, which previously invested €10 million and integrated Casavo’s technology into UniCredit SubitoCasa’s real estate services. Casavo also shared its 2023 financial performance, highlighting progress towards profitability.
Giorgio Tinacci, Casavo’s CEO and founder, expressed his enthusiasm: “We are thrilled to announce this new capital injection and extend our gratitude to UniCredit and our major investors. Despite the hurdles posed by rising interest rates, our team’s adaptability and resilience have enabled us to remain on track towards profitability by 2025.”
Transforming Real Estate with Smart Solutions
Founded in 2017, Casavo is redefining the home buying and selling process with its advanced digital platform. The company simplifies transactions by offering instant purchase options or connecting sellers with buyers through a network of partner agents. Buyers benefit from a selection of move-in-ready homes and integrated services, including mortgage solutions.
With operations extending across Italy, Spain, and Portugal, Casavo is committed to making real estate transactions faster, more transparent, and hassle-free. The company’s strategic shift from an Instant Buyer to a Marketplace model reflects its focus on financial sustainability and market expansion. In 2023, Casavo’s revenue grew to €225 million, and it successfully sold its remaining real estate inventory, valued at €36 million.
Editorial Insight
Casavo’s latest funding round is a testament to its robust market position and innovative approach to real estate transactions. The transition to a Marketplace model, combined with its strategic cost reductions and focus on core markets, positions Casavo well for future growth and profitability. By leveraging its digital platform and strategic partnerships, Casavo is poised to continue transforming the real estate industry.
The company’s focus on digitalization and its commitment to enhancing the transparency and efficiency of real estate transactions reflect a broader trend towards technological innovation in the sector. As Casavo advances towards its goal of profitability by 2025, its impact on the industry is likely to be profound, setting new standards for how real estate transactions are conducted.
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