Investment for Spanish iBuying Firm

December 22, 2021

A Spanish proptech firm has secured US$518 million to advance its ibuying operations.

Clickalia, which was formed in 2018 by Alister Moreno and Pablo Fernandez, said this latest investment will provide it with access to more than 250,000 residential properties.

Los Angeles-based venture capital firm Fifth Wall drove the equity financing, which included Luxor Capital and Mouro Capital. Deutsche Bank also provided more than $440 million in debt financing.

Fifth Wall is also an investor in Opendoor as well as Loft, a Latin American real estate tech unicorn.

Despite its recent, much-publicised troubles, the ‘iBuyer’ business model has proved to be popular in Europe. Clickalia has purchased more than 1,800 properties and employs 600 people, It has also acquired a property management company to further expand its operations.

Currently, Clikalia will provide property sellers with an offer within 24-hours, and if accepted a sale within just seven days. According to the company it will renovate the home and re-market with the goal of using digital solutions to achieve a faster sale.

Miguel Nigorra, Partner and Head of Europe for Fifth Wall, said his firm was impressed by the founding team, which had a previous successful exit as well as the market opportunity, as well as the company’s “amazing” unit economics and metrics “compared to many other companies in the market.”

He said: “The Spanish market is one of the largest markets in Europe when it comes to residential real estate — with the equivalent of over 300,000 transactions per year.”

“It’s a massive market, and the process of selling a home in Europe and Spain specifically is extraordinarily time consuming, expensive and inconvenient.”

We’re excited about the technology angle Clikalia is bringing to a very old fashioned vertical in the real estate market.”

December 22, 2021
Andrew is an experienced media and content professional, with extensive publishing experiences throughout Southeast Asia and in the United Kingdom. He has worked on the editorial and content operations for property portals including PropertyGuru and Juwai. He was also the Publishing Director for the Thai language edition of BusinessWeek magazine.

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

realtor.com building
Realtor.com Parent Move Acquires Zenlist

Move Inc., the parent company of U.S. real estate portal Realtor.com, has announced that it has acquired Zenlist, a Proptech...

Read More
People Roundup 11July 1
People Roundup: REA Group, CoStar Group, Oikotie

This week's People Roundup starts in Australia, where REA Group is restructuring its Tech team...   Oceania: REA Group cuts...

Read More
Investment Roundup 11 July 2
Funding and Investment Roundup: Urban.com.au, Huspy, NewHome, Spacest

Another valuable domain name has been acquired in Australia, so that's where we'll start with this week's Funding and Investment...

Read More
Product Update July11 3
Product and Services Roundup: Zoopla, Rightmove, Daft, Square Yards, Bayut, Domain

This week's roundup starts with a double whammy for Zoopla in the United Kingdom...   United Kingdom: Zoopla says MyHome...

Read More

Editor's Pick