European iBuyer Casavo Arrives in Portugal

January 27, 2022
Share this Post: 

The Milan-based iBuyer Casavo has opened for business in Portugal with plans to recruit 20 local employees and spend €100 million purchasing properties.

Launched in Italy launched by Giorgio Tinacci in 2017, Casavo is among Europe's largest iBuyers and has raised over €400m to date in equity and debt from the likes of Goldman Sachs, Greenoaks and Exor seeds. The company operates in five Italian cities and expanded to Madrid in early 2020, where it competes with the likes of Finland based, and to Barcelona in 2021.

Speaking about his company's latest expansion over the border, Giorgio Tinacci, CEO & Founder of Casavo said:

“The Portuguese residential market is apt for Casavo as people still prefer to buy houses rather than rent. Similar to the other Southern European markets, the residential market here is fragmented, complex, and offline. The pandemic has accelerated a change in customer behaviour towards digital adoption. Entering the Portuguese market allows us to continue our expansion, strengthening our proposition and keeping investing in innovation.”

Casavo operates along the same lines as the likes of Opendoor and Offerpad in the United States using technology to assess and make offers on properties before renovating them and selling them on through partnerships with local real estate agents and via its own listings portal.  The value proposition for consumers in these countries is that Casavo guarantees a quick sale with little bureaucracy and swift payment in markets where none of these can usually be guaranteed.


January 27, 2022
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Hemnet Vs Rea Group
Analysis: Hemnet Still Playing Catch-up to REA Group When It Comes to Vendor Paid Advertising

Vendor-paid markets are great for real estate portals. For more than a decade the leading Swedish player Hemnet has charged...

Read More
Ohmyhome Full Year Results Net Losses But Big Ambitions
OhMyHome 2023 Full-Year Results: Net Losses But Positive Outlook for Nasdaq-listed Marketplace

The Singapore-based publicly listed company OhMyHome has released its 2023 full-year financial results. Highlights include: Revenues totalled S$5.0 million (US$3.8...

Read More
Homely Financial Results
Australian Portal Homely Records 16% More Enquiries in 2023

Australian challenger portal Homely generated over 15.5 million enquiries in the 12 months from April 2023. Homely, which competes with...

Read More
Yandex Q1 Strong Performance From Divested Assets
Yandex Q1 2024: Net Losses for Remaining Assets After Large Scale Divestments

Yandex N.V., the Dutch holding company of the marketplace giant Yandex, has released its financial results for the first quarter...

Read More