Casavo has been influencing the property market in Southern Europe. Founded by Giorgio Tinacci, the property platform redesigns the way the property market operates, using a distinct and innovative business model. Now, the company has just secured €400 million in a Series D funding round. This comes little more than a year after a €200 million Series C raise which already marked the company as one of Europe’s fastest growing proptechs. Casavo takes a unique look at the property market – and it’s clearly on to something. It offers free appraisals to sellers, generates a quick offer, buys it, and then renovates it to sell at a profit. Flipping houses in Southern Europe, the startup has gained traction in its native Italy, and Spain and expanded to Portugal this year. In this part of the continent, the model works well, there are many properties available that have massive potential but are sitting either derelict and/or haven’t changed hands for decades and need some refurbishment.
The startup has already proven itself in its space – holding a high value of the market share in Italy and Spain and growing fast in Portugal. Now, with his new finding, the startup is planning its move to France – where there is undoubtedly big market potential. Alongside moving into France’s lucrative market, Casavo plans to add an additional 200 people to its team of 400 in the next year. In addition, the firm wants to continue product development, so it can become an all-in-one property provider, with the capability to offer mortgages and so on. Already Casavo is a mortgage broker in Italy, and they want to expand on this offering across core markets and add further features.