European proptech Casavo secures €400m in equity and debt

Italian proptech Casavo has raised €400m, consisting of a €100m Series D seed round and €300m in additional debt capital.

Casavo raises 400 million euros

The Series D equity fundraising, led by Exor, represents the largest proptech funding in Europe to date, Casavo said, as it seeks to broaden its platform and expand into new markets. .

The round saw participation from Neva SGR, Endeavor Catalyst, Hambro Perks, Fuse Ventures Partners and a number of angel investors, as well as all major existing investors including Greenoaks, Project A Ventures, 360 Capital, P101 SGR, Picus Capital and Bonsai Partners.

The Series D round “proves the strength of the company’s fundamentals and outlook despite challenging capital market conditions,” Casavo said.

The €300 million debt capital was provided by Intesa Sanpaolo, Viola Credit and other institutional lenders and brings the company’s borrowing capacity to over €500 million.

Casavo CEO and Founder Giorgio Tinacci said the new funding will enable the company to consolidate its position in Europe “by expanding into our existing markets in Italy, Spain and Portugal, while expanding into new new markets, France being a priority”.

Founded in 2017, Casavo started out as a home buying platform, but has since evolved into a marketplace where homeowners can sell or buy homes. To date, the company claims to have executed more than €1 billion in trades.

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