Casavo Reveals €10m in Funding From Unicredit as Part of This Summer's €400m Series D Funding Round

Casavo has revealed that it received a €10m cash injection from Unicredit this year as the pan-European Commercial Bank entered a long-term strategic partnership with the Italian iBuyer.

Casavo raised an incredible €400m in Series D funding earlier this year—with one investor choosing to remain unnamed. But the identity of the secret investor has now been revealed as UniCredit, with both entities entering a symbiotic relationship for the long-term.

UniCredit will be able to provide its customers with new services developed in collaboration with Casavo as part of the agreement. Meanwhile, both companies will have access to each other's customer base. Casavo will also leverage UniCredit's Subito Casa, the Group's rel estate brokerage firm.

Giorgio Tinacci, CEO at Casavo, said:

"We are very excited to announce this strategic partnership with UniCredit, with an investment of 10 million euros which testifies to a long-term commitment.

"This partnership is part of a broader collaboration program between Casavo and the leading banks in the markets in which we are active. We believe that this will allow us to further improve the experience of home sellers and buyers, thanks to an integrated offer along the entire buying and selling value chain."

Casavo entered the French market earlier this year with the acquisition of Proprioo, to add to strategic expansions into Portugal and Spain respectively. The iBuyer is clearly on the charge, and it will be interesting to see whether Casavo handles this new model better than Zillow in the US did!