Casafari, one of the largest real estate software platforms in Europe, has announced the closing of a €5 million venture debt agreement with
BBVA Spark, marking BBVA’s first operation in Portugal for technology companies. This financing is supported by the European Union and the European Investment Fund under the InvestEU Fund program.
Founded in 2018, Casafari has quickly grown to become a key player in the application of technology to the real estate sector, with over 60,000 users in Portugal, Spain, Italy, France, and Germany. Its goal is to build the cleanest and most comprehensive real estate database in Europe, democratizing access to this information to reduce fragmentation and enhance transparency. In 2023, it acquired Targomo, a leader in location intelligence and prediction.
Through €5 million in venture debt financing, Casafari aims to consolidate and strengthen its presence in the European market. “We are proud to support Casafari in its mission to bring greater clarity and efficiency to the European real estate market,” says Miguel Ángel Alcalá, head of BBVA Spark in Spain. “This agreement is particularly exciting for us as it marks our first operation outside Spain in the European continent, following two years of rapid client growth in Spain and Latin America. These clients benefit from BBVA’s full suite of corporate banking services and specialized financing.”
“Securing this venture debt with BBVA Spark is a significant milestone for Casafari,” states Nils Henning, CEO and co-founder of the company. “This partnership validates our business model and growth trajectory. The funds will be used to further consolidate the market and support mergers and acquisitions to strengthen our leadership in the pan-European market.”
As Casafari continues to grow and innovate, this venture debt agreement will play a critical role in enabling the company to accelerate its development plans, enhance its technological capabilities, and maintain its competitive edge in the dynamic European real estate market.
BBVA Spark’s decision to finance Casafari underscores its confidence in the startup’s potential and its commitment to supporting tech companies in Europe. This commitment was solidified last October when BBVA Spark announced its entry into the United Kingdom and the establishment of a new team in London to cover the European market. The new team in London reinforces BBVA Spark’s international presence, which currently boasts over 1,500 clients globally and nearly €500 million in committed credit.
