Proptech firm Casavo has raised €200 million in an effort to revolutionise the way individuals buy and sell homes in Europe.
Goldman Sachs will provide up to €150 million in financing facility and a €50 million Series-C raise was led by Exor Seeds, and saw participation from Greenoaks Capital, Project A Ventures, 360 Capital and Picus Capital. P101 and Bonsai Partners also joined as new investors. This now brings Casavo’s total raise to €385 including debt and equity.
Founded in 2017 in Milan, Casavo reduces the time to sell a home from an average of 6 months down to 30 days. With their “instant Buyer” platform, the firm is reporting “triple-digit” growth over the course of 2020.
To date, the company has handled more than 1,100 real estate transactions, totalling a value of €300+ million, and operates in Milan, Rome, Turin, Florence, Bologna, Verona, and Madrid.
“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,” comments Casavo founder and CEO, Giorgio Tinacci.
“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.”