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We are proud to announce a new capital raising of 200 million euros, for a total of 385 million raised from 2017 to date between equity and debt. A new, fundamental milestone that allows us to grow and have ever more impact on the way people sell, buy and live in Europe.
The transaction
€50 million was raised in the Series C investment round led by Exor Seeds, the early-stage investment activity with which Exor supports emerging companies that have the potential to create new market categories. Exor is a diversified holding company controlled by the Agnelli family, the main shareholder of companies such as PartnerRe, Ferrari, Stellantis, CNH Industrial, Juventus FC and The Economist Group.
Greenoaks Capital, Project A Ventures, 360 Capital and Picus Capital, already investors in previous financing rounds, continue to support us. Among the new investors, in addition to Exor Seeds, also P101 and its funds (including ITALIA 500 with Azimut Libera Impresa) and Bonsai Partners, a Spanish venture capital fund that invests in technology companies throughout Europe.
We have also secured a €150 million credit line from Goldman Sachs, which will allow us to finance the growth of our real estate portfolio.
Our investors' perspective
Noam Ohana, Managing Director of Exor Seeds, said: “Casavo is emerging as a European leader in the PropTech sector: we are excited to collaborate with Giorgio and his team to build a European excellence, providing them with the experience and relationships that Exor has worldwide.”
“We are excited to be able to support the growth of Casavo at such an important time,” says Simone Verri, Partner at Goldman Sachs and Global Co-Head of Debt Capital Markets. This operation fits perfectly with our strategy of supporting innovative and diversified high-quality platforms globally.
Prospects for the future
The new round of financing allows us to accelerate growth both in the markets where we are already active, such as Italy and Spain, and in other European countries, helping us revolutionize the home buying and selling experience for thousands of people. In particular, the equity raising will allow us to continue to invest in our team and technology to create the best digital experience for our customers. The credit line from Goldman Sachs, on the other hand, represents a fundamental and strategic step to finance our large-scale real estate transactions with the support of institutional investors.