Milan-based “instant buyer” real estate platform Casavo has landed €7 million in a funding round led by Project A Ventures. This capital injection brings the total amount attracted by the startup — in both equity and debt financing — to €21 million.
Casavo claims to be the first “iBuyer,” or “instant buyer” of property in Italy. Its automated valuation system allows to make a purchase offer immediately. The startup states that the seller normally receives the full cash payment within 30 days, compared to the market average of seven months. After purchasing a property, Casavo renovates and sells it again.
The company states that it as closed more than 50 deals so far and grown from two to 30 employees. It currently operates in Milan and Rome, and plans to expand to Turin and Florence in April.