Spanish proptech Casafari raises 5M euros in funding round

September 18, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

With its technology, it develops a real estate database with “real and updated market information”.

Spanish proptech Casafari has closed a round of financing of five million euros to continue its expansion in Spain. This startup, founded two years ago in Palma de Mallorca, uses artificial intelligence to classify the real estate market and combines the entire real estate offer on a platform to eliminate duplicate ads and facilitate the work of real estate agents "by offering real and updated information on the market".

This platform, developed by Mila Suhareva, Nils Henning and Mitya Moskalchuc, is used by 7,000 real estate agents and in two years has managed to increase its annual income by more than 600%. Currently, it has "the most complete data on the real estate sector in areas such as Madrid, Barcelona, ​​the Costa del Sol, and the Balearic Islands, as well as in different regions of Portugal."

The machine learning and data science technology used by the company allows developing deep market analyzes, in which time series of prices and changes in preferences in the type of properties and locations are valued.

Thus, through the platform, you can access an updated database, which includes the offer of real estate and the new additions of purchase and sale. They can also verify the history of each property, its price changes, and current status, and connect with each other to sign agreements and collaborations that allow them to share commissions in a safe and discreet manner.

With this round of financing, the Spanish startup aims to expand its team, create new custom applications to accelerate its development in the European market.

Round of financing

 

This financial operation has been led by Lakestar, one of the most important venture capital companies in Europe, and Round Hill Capital, a real estate investment fund.

Lakestar has made more than 12 investments in technology applied to the real estate sector, including AirbnbCadreRhin or Figure, so it has extensive experience in this type of sector. Manu Gupta, a partner at Lakestar, argues the reasons for his investment: "We believe that Casafari's exclusive technology and its database will be key in the real estate market for the next two years."

Currently, Casafari works with industry-leading agencies such as Sotheby’s International RealtyColdwell BankerRE / MAX franchises, SavillsFine & CountryEngel & VoelkersKeller Williams franchises, among others.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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