Casavo Raises €50m to Fuel Expansion Across Europe

Italian buy/sell startup Casavo has reportedly raised €50 million in Series-B funding led by Greenoaks Capital. This round brings the startup’s total funding to €100 million over the last two years.

Casavo is a tech-enabled market maker

The Italian company has an online platform designed to help in the instant buying and selling of real estate properties. According to Casavo, the funds are to be used to continue building its technology platform and drive expansion into new markets. Bob Scully, an investor at Greenoaks made this statement via press release:

“Casavo offers a remarkable value proposition for everyone – seller, buyer and agent – involved in the real estate transaction. We’ve seen significant value created through proptech innovation for consumers in the United States, and we look forward to working with Giorgio and the entire Casavo team to better serve consumers in the Italian and European markets.”

The proptech startup, led by Giorgio Tinacci, Founder & CEO, solves the pain of the buy/sell process by creating a marketplace for selling a house online in 30 days in major Italian urban areas. Mr. Tinacci had this to add on this latest round of funding:

“In addition to strengthening our presence in Italy by entering new cities, starting with Bologna, we plan to expand our platform in southern Europe and grow our team by hiring additional managers, data scientists and product engineers. Ultimately, our goal is to create the best buying and selling experience for any customer in Europe, and we will continue to build value for our clients by launching new services and innovative real estate products.”

The startup company is backed by Picus Capital, 360 Capital, Project A Ventures, Kervis Asset Management S.p.A., and others. Casavo has, so far, closed almost 300 real estate transactions worth more than €50 million. The team now numbers 60 people in two years and more than 1,000 real estate agencies have joined the Casavo network in Milan, Rome, Turin, and Florence.