Exactly one year ago, Casavo announced a €20 million funding round. Today, the proptech scaleup presents its results for the 2024 financial year and confirms its strategic objectives for 2025: achieving operational break-even and expanding its network of real estate agents, as well as consolidating the technological offering dedicated to them.
During 2024, Casavo completed the evolution of its business model, thereby achieving a key objective for the company’s long-term sustainability. Over the past year, the Group completed the disposal of its residential property portfolio, definitively abandoning its previous asset-heavy model, and consolidated its presence in its main markets in Italy and France.
In 2024, Casavo recorded consolidated revenues of €33 million and served over a thousand sellers and buyers. Revenues from the marketplace model grew by 25% compared to the previous year. . Casavo also distributed approximately €2.3 million in commissions to the real estate agents with whom it collaborates.
The evolution to the marketplace model has led to a leaner balance sheet structure, characterised by more stable and predictable revenues and cash flows, as well as significant operational efficiency, which has led to a 72% reduction in the cost structure.
To support this new phase of development, in December 2024 Casavo secured a new €13 million capital increase led by the company’s main shareholders. The round confirms confidence in the growth plan and the solidity of the marketplace operating model.
Having already recorded a 31% increase in revenue in the first half of 2025 compared to the same period in 2024, Casavo expects to achieve financial sustainability by the last quarter of 2025, with expected growth of over 50% year-on-year and a target of serving over 1,600 customers.
The network of real estate agents between Italy and France has over 150 professionals, with a 20% growth recorded in the first six months of the year. In the second half of 2025, Casavo plans to strengthen its network with another 50 agents, thanks in part to the expansion of its presence in new cities and the integration of independent local agencies. At the same time, the company continues to invest in the technological development of its proprietary software for agents, with the aim of making their work increasingly efficient while offering a distinctive service to sellers and buyers.
In early 2025, Casavo also tested a project that represents an evolution of the previous instant sales model, which involves the purchase of properties through investors and partner operators. The initiative aims to leverage the know-how accumulated in the real estate sector and enrich the range of solutions offered to its customers.
“2024 was a crucial year for Casavo. We completed the transformation of our business model, moving to a more sustainable, scalable marketplace model that is consistent with our long-term vision. The revenue growth resulting from this model, the level of operational efficiency achieved and the expansion of the agent network have validated the strategic transition decision initiated at the beginning of 2023,” commented Giorgio Tinacci, CEO and founder of Casavo, in a statement. (in the photo) – Looking ahead to 2025, we are determined to achieve profitability by the last quarter, confirming the goal we set ourselves two years ago. Technology continues to be the driver of our growth, enabling us to offer an increasingly simple, transparent and convenient experience for sellers and buyers. Thanks also to the continued support of our investors, we are ready to enter a new phase of development. .
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