Italian proptech startup Casavo lands €200 million to change the way people sell, live and buy homes in Europe

Casavo, a leading Italian proptech platform with the mission to change the way people sell, live and buy homes in Europe, announces a new capital raise of €200 million, bringing total capital raised to date to €385 million including debt and equity.

Founded in 2017 in Milan, Casavo has developed an innovative and unique business model: a technological platform called ‘Instant Buyer’ that submits direct offers to buy homes, and, after renovation, finds the final buyers. Founded by Giorgio Tinacci, Casavo aims to change the way people sell, live and buy homes in Europe. The company has handled more than 1100 real estate transactions to date for a total value in excess of €300 million. With a team of 200 people, Casavo is currently operating in Milan, Rome, Turin, Florence, Bologna, Verona, and Madrid. With its core being the Instant Buyer service, Casavo is further expanding its marketplace product offer to cover all the needs of sellers, buyers and brokers.

Casavo achieved triple-digit growth in 2020 as the company provides customers with a superior digital user experience, reducing the average time to sell a home from 6 months to less than 30 days, and benefitting all players in the real estate ecosystem.

“We’re excited to welcome Exor as a long-term partner to change the way people sell, live and buy homes in Europe. We are proud to benefit from their entrepreneurial heritage, while sharing the same innovative vision” said Giorgio Tinacci, Founder and CEO of Casavo. “The new round will accelerate our growth across our existing markets in Italy and Spain as well as in other European cities, helping thousands of home sellers and buyers. The equity proceeds will allow us to continue investing in our team and technology to deliver the best user experience for our customers. Finally, the facility secured from Goldman Sachs represents a strategic milestone for Casavo to finance at scale our real estate transactions on the institutional debt market.”

The Series C equity round was led by Exor Seeds, marking its first lead investment in an Italian startup. Exor Seeds is the early-stage investment arm of Exor, supporting emerging companies with the potential to be category leaders. Exor is a diversified holding company controlled by the Agnelli family and owner-operator of companies such as PartnerRe, Ferrari, Stellantis, CNH Industrial, Juventus FC and The Economist Group.

Noam Ohana, Managing Director of Exor Seeds stated: “Casavo is emerging as the European PropTech category leader and we are thrilled to partner with Giorgio and his team and use the full depth of Exor’s global platform to build a European champion.”

Existing investors Greenoaks Capital, Project A Ventures, 360 Capital, and Picus Capital continue to support the company. New investors joining Exor include P101 and related funds (including ITALIA 500 from Azimut Libera Impresa), and Bonsai Partners, the Spanish VC fund investing in tech opportunities across Europe.

Goldman Sachs will provide Casavo with a secured facility of up to €150 million to finance the growth of Casavo’s real estate inventory: “We are very excited to be able to support Casavo’s growth at this very important juncture. This facility fits our strategy of supporting innovative and differentiated high quality platforms globally” said Simone Verri, a Partner at Goldman Sachs and Global Co-Head of Debt Capital Markets.