Italy’s Casavo Secures €20 Million to Propel Growth and Profitability Goals by 2025

Milan-based proptech company Casavo has raised €20 million in new funding, continuing its mission to transform the home buying and selling process. The latest funding round, completed in March, was led by UniCredit, with participation from key shareholders including Exor NV, Project A Ventures, Neva SGR, and 360 Capital.

This investment builds on Casavo’s existing partnership with UniCredit, following a €10 million investment in 2022. The integration of Casavo’s technology into UniCredit SubitoCasa’s real estate services has further solidified this relationship. The new capital also extends Casavo’s Series D round from 2022, providing crucial support for the growth of its Marketplace business. The company has also shared its 2023 financial results, marking a significant step toward its goal of profitability.

Leadership Perspective

Giorgio Tinacci, founder and CEO of Casavo, acknowledged the continued backing from UniCredit and other investors, stating: “This new capital reflects the confidence our investors have in Casavo. Despite the challenges posed by rising interest rates, our team’s adaptability has kept us on track towards profitability. We are optimistic about achieving this goal by 2025.”

Innovating Real Estate

Founded in 2017, Casavo offers a digital platform that streamlines the home buying and selling experience. The platform provides instant purchase offers or connects sellers with buyers through a network of partner agents. Buyers benefit from a curated selection of move-in-ready homes and integrated services, such as mortgage options. Casavo operates in key cities across Italy, Spain, and Portugal, with the aim of making real estate transactions more efficient and transparent.

Strategic Shift and Financial Focus

In the past year, Casavo shifted from an Instant Buyer model to a Marketplace approach, aiming for financial sustainability by 2025. The company’s consolidated turnover increased to €225 million in 2023, up from €216 million in 2022. In the first half of 2024, Casavo sold its remaining real estate inventory, valued at €36 million, consisting of 98 units held at the end of 2023. The company also reduced production costs by nearly 40% by adopting an “asset-light” business model and focusing on core markets, which is expected to positively impact its 2024 income statement.

In 2023, Casavo facilitated over 3,200 real estate transactions and paid nearly €5 million in commissions to its partner agents. The company plans to expand its customer base and agent network while continuing to digitize and streamline real estate sales.

With this latest investment, Casavo is positioned to further enhance its innovative real estate solutions, driving growth and operational efficiency, with the goal of achieving profitability by 2025.

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