Casavo arrives to Malaga with ten million euros and hoping to capitalize on 5% of real estate transactions in the area.
The proptech specialized in buying and selling online housing has opened an office at the Innovation Campus-Málaga Palace, with a local team that will grow to 15 people in the coming months, and has already acquired its first property, located in the Perchel neighborhood , thus marking the start of its operations in the city, which are expected to exceed fifty transactions throughout 2022.
"This 2022, at Casavo we have set ourselves the goal of promoting our regional expansion in Spain. Thus, Malaga is a strategic city for our operations, as a result of its great attraction for technology companies, its sustained economic growth and the great dynamism of its market ", says Francisco Sierra, general director of Casavo for Spain and Portugal.
After landing in Madrid and Barcelona in 2020 and 2021, respectively, Malaga becomes the third Spanish city where the Italian company operates.
In March 2021, Casavo obtained 200 million euros to finance his expansion plan. With Goldman Sachs, it agreed on a financing line of 150 million and the remaining 50 million were raised in a financing round, the third of the start up in addition to the seed phase, which was led by Exor Seeds, the investment arm of Exor that invests at start-up; P101 and Bonsai Partners, who entered as new investors, while the funds Greenoaks Capital, Project A Ventures, 360 Capital and Picus Capital, already within the company's shareholding, redoubled their commitment to proptech.