The startup, operating in the real estate sector, has developed an innovative and unique business model: a technological platform that directly buys the property of those who wish to sell their house in matters of days.
Founded in Milan in 2017 by Giorgio Tinacci, Casavo aims to reduce sales times, while eliminating the stress and uncertainty of the process. Casavo was funded and backed by some of the most important Italian and international investors, such as Greenoaks, Project A Ventures, Picus Capital, 360 Capital, Kervis Asset Management, Boost Heroes and Marco Pescarmona.
The arrival of Casavo in the Spanish market also coincides with the strengthening of the administrative structure in Italy. The restructuring of the company with the registration of seven new managers have aimed to improve the experience of the buyer and seller.
In Spain, the General Manager is Juan Uribe. Uribe is by profession, an Industrial Engineer. He studied at the Tecnológico de Monterrey in Mexico, received his MBA at the Tuck School of Business in Dartmouth, USA., and with a consistent curriculum, was formerly employed at McKinsey & Co Consultant and Boston Consulting Group. Uribe has been involved in leadership roles in various tech companies also in the real estate sector, as well.
The Spanish market
As reported by Ufficio Studi Gruppo Tecnocasa Spain, in the last half of 2018, Madrid presented a price increase of 16.62% and property prices in the main districts of the capital are among the highest in the country. According to statistics from the Association of Registrars of Spain, in addition, throughout the country, home sales between January and March 2018 increased by 13.4% compared to the previous year and 15.3% compared to the quarter previous.
Simplifying the process, sellers avoid the inconvenience and uncertainties related to the different phases of the sales process. Casavo achieves this by intervening as a direct buyer. The company's automated valuation system takes into account dozens of variables and offers potential sellers the exact value of their property and an immediate purchase offer in real-time. After accepting the offer, Casavo performs a free inspection of the property, while the seller receives full payment in a matter of days.