European proptech Casavo secures €400m in equity and debt funding

Italian proptech Casavo has raised €400 million, comprised of a €100 million Series D equity round and an additional €300 million worth of debt capital.

Casavo raises €400m

The Series D equity fundraise, led by Exor, represents Europe’s largest proptech financing to date, Casavo says, as it looks 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 strong fundamentals and prospects of the business despite difficult capital market conditions”, Casavo says.

The €300 million debt capital has been provided by Intesa Sanpaolo, Viola Credit and other institutional lenders and takes the company’s borrowing capacity to more than €500 million.

Casavo CEO and founder Giorgio Tinacci says the new funding will allow the firm to consolidate its position in Europe “by growing across our existing markets in Italy, Spain and Portugal, while expanding into new ones, with France being a priority”.

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