Leading Italian instant buyer (iBuyer) online marketplace, Casavo, has ended a Series B funding round with a total of €50 million, €20 million in equity, and €30 million in debt, making it among the first Italian startups to raise €100 million of capital in just two years.
Led by Greenoaks, this latest equity funding round comes just a few months after Casavo’s Series A, a round in which saw participation from Project A Ventures, 360 Capital and Picus Capital in February 2019. An undisclosed German institution provided the financing for the debt.
“We’re excited about Greenoaks’ investment and this new capital injection, which will enable Casavo to continue building our technology platform and drive our expansion into new markets,” says Giorgio Tinacci, Founder and CEO of the Milan-based startup. “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.”
Bob Scully, an investor at Greenoaks said, “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.”
Greenoaks, based out of San Francisco, is a private investment firm focused on long-term investments in digitally-based businesses on a global scale. Greenoaks has invested in products such as Coupang, Brex, Deliveroo, Robinghood, Sonder, and Discord.
Casavo has also reported continued participation from existing investors like Project A Ventures and Picus Capital of Germany, as well as from Italian-French investment fund 360 Capital, Kervis, Asset Management, Boost Heroes ( Fabio Cannavale's holdings company), Marco Pescarmona (the Founder and Chairman of MutuiOnline), and Rancilio Cube.
Edited by V. Haviland
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