The leading European PropTech has an initial investment plan of over 100 million euros to acquire houses in Portugal
Casavo, the digital residential platform that is redesigning the experience of selling and buying homes in Europe, starts today its operation in Lisbon planning to invest over 100 million euros to acquire houses in Portugal in the short run. With its team and office in Lisbon, Casavo plans to hire more than 20 people over the next couple of months to reinforce its growth plan in Portugal.
After launching in Spain in early 2020, Casavo enters its third Country to continue pursuing the mission of changing the way people sell, live and buy homes in Europe, redesigning the boundaries of the real estate market by offering a fast, easy and transparent service.
The Portuguese residential market is in fit with a platform like Casavo since people still prefer to buy houses rather than rent, with most of the housing stock being built before the 80s and thus requiring renovation.says Giorgio Tinacci, CEO & Founder of Casavo.
Additionally, similarly to other Southern European markets, it’s very fragmented, complex and offline, and the pandemic has accelerated a change in customer behaviour towards digital adoption.
Entering the Portuguese market allows us to continue our expansion, strengthening our proposition and keeping investing in innovation.
Casavo has developed a proprietary technology platform that carries out property valuations, after which the company either makes a direct offer to the home seller or finds the best buyer on the market. If the property is acquired by Casavo, the company guarantees the entire transaction process and makes payment to the owner in full in a matter of days.
Through this process, Casavo brings liquidity to the property market and transparency as opposed to the traditional selling process. Subsequently, the company carries out renovation works and puts the properties back up for sale, offering ready-to-live houses.
Furthermore, Casavo offers integrated home-related services, providing a turn-key experience with an inclusive approach towards real estate operators (brokers, contractors, banks. etc).
Founded in 2017 in Milan, Casavo currently has a team of over 300 people and operates in Milan, Rome, Turin, Florence, Bologna, Madrid, Barcelona and now in Lisbon, planning to expand to other European markets soon. To date, it has completed over 160,000 home valuations through its website, carried out more than 2,300 transactions worth over €700 million and raised over €450 million in equity and debt.
From just two employees in 2017 to a team of almost 300 people in 2021, Casavo has transformed its company culture into one of its key assets by creating an innovative work environment designed to allow everyone to thrive and succeed.
A strong focus on growth, continuous learning, personal development, agile methodologies and flexibility have made Casavo one of the most attractive Italian startups for both tech and business profiles and helped the company win various awards for its company culture, such as the Great Place to Work 2019-2020 Award and the Best WorkplacesTM for Millennials 2020 Award.