Italy-based property listings platform developer Casavo has secured €50m ($59.5m) in equity funding through a series C round led by Exor Seeds, an investment vehicle for reinsurer PartnerRe and its parent firm Exor.
Investment firms Greenoaks Capital and Picus Capital P101 also took part in the equity portion of the round, as did venture capital firms 360 Capital, Bonsai Partners, Project A Ventures and P101, along with P101-associated funds including the Italia 500 vehicle it manages for asset manager Azimut Libera Impresa.
The round included approximately $179m in facility financing from investment banking firm Goldman Sachs.
Casavo buys properties from users at a 8% discounted rate instead of charging a traditional commission, renovates them and then lists them on its online platform. It has some 200 employees across offices in six Italian cities as well as in Madrid, Spain.
The company will use the cash to expand in Italy and Spain, move into other European cities, increase headcount and improve its technology. The debt facility will go towards financing its real estate transactions.
Greenoaks Capital led a $55m series B round for Casavo in October 2019, seven months after securing $7.9m in series A funding from Project A Ventures.
Casavo disclosed €500,000 in a pre-seed round featuring Picus Capital and €1.4m in seed funding from investors including 360 Capital, alongside the series A round.
