You might remember that last July, Milan-based digital real estate platform operator Casavo announced a €400 million Series D funding round that saw a €100 million equity portion led by Exor, and €300 million provided in the form of debt funding via Intesa Sanpaolo, Viola Credit, and “other leading institutional lenders”, one of whom chose not to be named in the 11th hour.
It would appear as though the case has been solved, as one of those “other” investors turns out to be cross town banking group UniCredit. Today Casavo announced that UniCredit had invested €10 million investment in the company as part of a long-term strategic partnership agreement.
The symbiotic relationship means that in the coming months UniCredit will be able to provide its customers with new services developed in collaboration with Casavo as well as both parties having access to each other's customer base. Additionally, Casavo will now be able to leverage the services offered by UniCredit Subito Casa, the Groups specialist a real estate brokerage firm.
“We are very excited to announce this strategic partnership with UniCredit, with an investment of 10 million euros which testifies to a long-term commitment,” said Casavo CEO Giorgio Tinacci. “This partnership is part of a broader collaboration program between Casavo and the leading banks in the markets in which we are active. We believe that this will allow us to further improve the experience of home sellers and buyers, thanks to an integrated offer along the entire buying and selling value chain.”