The Spanish PropTech market is heating up with two prominent companies in the market announcing positive news this week.
On Wednesday, Barcelona based full-service online brokerage Housfy announced that it had closed a funding round worth €10 million led by existing investors Torch Capital, DN Capital, Seaya Ventures, and Cathay Capital.
Since its foundation by CEO Albert Bosch in 2017 Housfy claims to have sold more than 5,000 homes via a full-service online brokerage model which competes directly with traditional agencies and charges a flat fee of €4,490 contingent on successful completion.
Housfy users can also secure a mortgage, contract moving and storage services as well as insurance and utilities on the platform. According to Bosch, the latest financing round will be used to improve user experience on the platform which will be a key focus for the company going forwards.
According to Linkedin Housfy has 151 employees including its own agents with idealista news quoting an expected 2021 revenue figure for the firm of €15 million representing a 14% increase on the previous year.
Yesterday, Italian headquartered iBuyer Casavo announced that its Spanish operations would expand to Barcelona.
Having operated in Madrid since January 2020, the Milanese firm backed by the Agnelli family has big plans for the Catalan capital where it plans to invest some €100 million over the next two years to establish iBuying as a competitive option in the market.
With its relative lack of new builds and scarcity of modernised central apartments, Barcelona is an ideal market for iBuying according to Director General of Casavo in Spain, Francisco Sierra who said that the company will be looking for properties in the €200,000 - €500,000 bracket in central neighbourhoods.
Since its foundation in Italy in 2017, Casavo has done more than 1,700 property transactions worth over half a billion Euros and made itself into one of Europe's leading PropTech companies.