Proptech startup Casavo ends a Series A round with €7M

February 25, 2019
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Giorgio Tinacci started his proptech endeavor, Casavo, in 2017 in Milan, Italy. The startup's goal is to speed up the process of selling a property while also eliminating the stress and the uncertainty that comes with it.

Only 17 months after launching, Casavo has raised €7 million in Series A funding. The round was led by Berlin-based Project A Ventures, with participation from existing investors Picus Capital360 Capital PartnersKervis Asset Management, and Boost Heroes, along with Marco Pescarmona and Rancilio Cube. This brings the total raised by Casavo to €21 million in equity and debt funding.

On average, it takes seven months to sell a residential property with the help of traditional brokers in the main Italian cities. The team behind Casavo, however, wanted to create a simplified transaction experience, using the Instant Buyer (iBuyer) model. Casavo’s automated valuation engine takes more than 70 variables into account and immediately provides potential sellers with the fair value of their property – and a purchase offer. Upon acceptance of the offer, Casavo arranges a free inspection of the property and the seller receives the full cash payment within 30 days.

The property is eventually renovated and sold to the next owner directly by Casavo in a transparent process that fosters customer confidence and peace of mind. The combination of technological edge paired with the team’s focus on flawless execution enables Casavo to decrease selling time, ultimately creating value for the seller.

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February 25, 2019

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