Portugal news - Portuguese Real Estate startup CASAFARI just raised 5 million euros in venture debt from BBVA Spark, a VC based in Madrid. This operation is backed by the European Union and the InvestEU Fund.
With this new loan, the capital already raised by CASAFARI since it was founded in 2018, rises to 30 million euros. The venture debt just raised by CASAFARI will be used for the acquisition of other related companies, in order to strengthen its position as a leading database of the European real estate market.
Portuguese startup CASAFARI is one of the largest real estate software platforms in Europe with more than 60,000 users from Portugal, Spain, Italy, France and Germany.
“We are proud to support CASAFARI in its mission to increase the clarity and efficiency of the real estate market in Europe,” stated Miguel Alcala, head of BBVA Spark, that is a division of Spanish bank BBVA.
According to Nils Henning, the CEO and co-founder of CASAFARI, the venture debt obtained through BBVA Spark validates the startup’s business model and growth trajectory. The startup’s business model is to continue to grow organically into new markets and also inorganically through acquisitions. CASAFARI has already completed two successful acquisitions, namely Moonshapes in Portugal and Targomo in Germany.