Casavo Restructures its Balance Sheets and Raises €12M in Pursuit of Profitability

Casavo has hit the 'reset' button on its finances as the former iBuyer continues its corporate repositioning towards a marketplace and brokerage, while the company is pursuing an acquisition in the first half of 2026.

Milano Finanza reported that in December 2025, Casavo CEO Giorgio Tinacci embarked on an operation that cancelled 200 million euros of losses generated since the company's inception in 2017. Casavo distributed its cash reserves and share capital to pay off some existing shareholders, then launched a capital raise worth approximately €12 million from existing shareholders and new investors.

The operation was not unanimous, but did gain majority approval from significant shareholders, including Exor (22% stake) and Unicredit (11%). Two shareholders—P101 (2.5%) and Intesa Sanpaolo (5%)—abstained on the vote, while also stating their dissatisfaction with Casavo's opaque communication about the company's poor performance.

Meanwhile, Milano Finanza also reported that Casavo lost 44.5 million euros in the first nine months of 2025, driven by circa 14 million euros of depreciation and amortisation, and a further 26 million euros in write-downs from financial assets.

According to the report:

"As of Sept. 30, 2025, the net equity of Casavo Management, the group’s holding company, was negative by approximately €3.5 million, despite the over €196 million in reserves accumulated from previous funding rounds.

"The resources will therefore be allocated to cover the 3.5 million of negative assets, while the remainder will be used to grow, including through external channels. Casavo's perspective is to achieve profitability in 2026." [Translated from Italian]

Milano Finanza noted that Casavo is also in discussions to acquire an unnamed company "capable of accelerating the strengthening of its agent network in Italy," with the deal expected to close by the second quarter of 2026.

It has been a tumultuous few years for one of Europe's best-known iBuyers, including international expansions, layoffs, and, ultimately, throwing in the iBuying towel to focus on a more traditional marketplace and brokerage business.

Assuming a successful acquisition closes this year, a new-look Casavo will seek to take market share in Italy with an improved brokerage network, while the company's recent expansion to Bordeaux and collaboration with home renovations firm Homélior (also France) and a collaboration with Spacest (Spain) points to an international strategy.