Casavo targets revenues of 50 million by 2030 and growth through m&a

Casavo's new course begins with its business plan. After having cleared the balance sheet of the approximately EUR 200 million in accumulated losses and having transformed its business model - from instant buying to a technological real estate marketplace based on a direct network of agents - the proptech led and founded by Giorgio Tinacci now looks to 2030 with new objectives. By 2026, the ambition is to achieve a turnover of between EUR 15 and 20 million, double the network of agents - from around 200 to over 400 in Italia and France - and expand into 20 new urban areas. The goal is to return to profit as early as 2027, while by 2030 the company aims to exceed 50 million in revenue.

Underpinning the strategy is a mix of organic growth and acquisitions, in a market that is - according to management - heading towards a strengthening phase. "We are convinced that the real estate brokerage market in Europe will move towards a consolidation phase, catalysed by a change of operating model from franchising to direct network and by the impact of artificial intelligence on agents' productivity," Tinacci explained, pointing out that Casavo can count on proprietary technology and expertise developed in several European markets. To support the business plan, proptech completed a capital increase of more than EUR 12 million, subscribed by the majority of shareholders (including Project A, Picus Capital, Evrg 18, and Salica Investments) and new investors, among whom, according to information, there are also the founders of Bending Spoons, participating through personal vehicles.

This is the background to the first m& transaction of the new course: the acquisition of Casando Agency, an Italian real estate brokerage company with over 60 employees in major cities, formerly a branch of Renovars (now in composition with creditors together with its main subsidiary Facile Ristrutturare). The deal allows Casavo to double its network of agents in the country and to strengthen its presence in strategic areas, including six cities not covered so far.

"This operation is part of a broader evolution," commented Victor Ranieri, general manager and co-founder, highlighting the goal of building "an integrated and technologically advanced ecosystem" capable of increasing productivity and opportunities for agents. Charlie Cinolo, co-founder of Casando Agency, agrees: "The integration allows us to accelerate on an already concrete European vision, leveraging Casavo's presence in France and the support of its strong investor base. The acquisition thus marks the start of a broader consolidation strategy, with which Casavo aims to aggregate real estate networks in Europe and strengthen its positioning as an integrated digital platform in the sector.