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Last week we announced the closure of a new financing round called “Series B”, which follows the Serie A after just 7 months. Much has already been said about the size of the round (50 million, of which 20 in equity and 30 as debt financing), and what we care about is explaining the reason for this new financing and what the consequences are for our company and the world of instant real estate buying.
The opportunity that presented itself with Greenoaks Capital was seized on the fly: we could have chosen to follow a more profitable path. It's slow, but we've decided to accelerate our goals, which include positioning ourselves as a market leader in Southern Europe. To do this, we've looked for the right partner to support us in increasing our focus on people and defining Casavo's strategic direction for the coming years.
Every business (those who have been following us for a while know what we think) is made up of people: employees, customers, shareholders, collaborators. Strong growth as a company can therefore only be focused on individuals. In our case, the goal is to become even more customer-centric and therefore ensure that our new services, new product features already in place, are relevant to our customers. Our existing solutions, our way of communicating, and our development plans always start from people, considering anyone who interacts with the company at a specific moment as a "customer." For example, if you try to change the traditional perspective, you too can imagine our employees not only as part of Casavo, but as people who, by interacting with Casavo, somehow also become our customers. Even in this case, there is a need to be satisfied: that of being able to work comfortably and peacefully: Casavo must provide them with a service, and only by conceiving employees with this logic can we truly satisfy them.
Using this filter, those on the outside can understand the importance that all our customers have for us at Casavo and, more importantly, how we understand them. in general, the people who interact with us. Obviously we are not perfect today and we will never be: that's why we want to work to improve the conditions of anyone involved in the real estate market.
This financing will serve Therefore, to strengthen the paradigm according to which, if we want to grow, we must do so by satisfying what people want or don't even know they want, by committing ourselves even more to simplifying the real estate market. This will also mean serving new customers abroad, penetrating the Italian market even further, and offering new services.
Not only that, this round allows us to go beyond the boundaries we have had until now. Greenoaks Capital, meanwhile, has broken through European borders, bringing with it a different way of doing business that comes from overseas. Casavo will cross Italian borders during 2020. The limit of capital raised by an Italian startup within the first two years of life is The target has been exceeded, bringing it to 100 million euros.
Finally, the Italian system will certainly benefit from this increased attention. For both Project A Ventures (the main investor in the Series A) and Greenoaks Capital (the main investor in the Series B), this was the first investment in our country, and others could follow.
With an ever-growing team and with the same spirit as always, we are moving towards new challenges.