Project A Ventures leads $7.9m series-A for Casavo

The VC firm is currently investing via its third fund, Project A Ventures III, which is targeting a final close on €180-200m in early 2019.

In addition, previous backers Picus Capital and 360 Capital Partners took part in the round, alongside Kervis Asset Management, Boost Heroes, Rancilio Cube and Marco Pescarmona, founder and chair of MutuiOnline Group.

This investment brings the total funding raised by the startup in both equity and debt financing to $23.7m.

Casavo, which at the moment is only operating in Milan and Rome, plans to use the fresh capital to boost its expansion in Italy by expanding into Turin and Florence this year and subsequently to additional cities in southern Europe. In addition, the capital will be used to improve Casavo's marketplace platform, increase efficiency and add new complementary services to its offering. 

Previous funding
Following a pre-seed round of €500,000 raised from early-stage investor Picus Capital in September 2017, the startup received €1.4m of funding in a round led by 360 Capital Partners with participation from Picus Capital in March 2018. Subsequently, Casavo raised an additional funding round of an undisclosed amount in November 2018.  

Company
Established in 2017 and based in Milan, Casavo offers an online marketplace to buy and sell residential properties. The startup provides real-time evaluations and purchase offers within 24 hours, allowing vendors to sell their properties within 30 days. Once acquired by Casavo, the properties are renovated, fractioned and sold again on the platform. Casavo has so far closed more than 50 real estate deals and counts around 700 real estate agencies in its network in Milan and Rome. The company employs 30 staff.

People
Project A Ventures - Anton Waitz (general partner).
Casavo - Giorgio Tinacci (founder, CEO).

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• Topics
• Expansion
• Southern Europe
• Real estate
• Project A Ventures
• Venture
• Italy