Just a Spotify used VC and PE support to acquire the assets of the music industry so now we all have to rent our music on a subscription basis, rather than owning it for life, so a PropTech startup is considering following a similar strategy for single-family homes.
Casafari, a European real estate data platform based in Lisbon, Portugal, has raised a $ 15 million Series A financing round led by Prudence Holdings in New York City. But, above all, he also obtained a “mandate” of 120 million dollars from the Geneva private equity investors Stoneweg, among other actors of the EP, to buy and let residential and commercial real estate. The startup is already present in Portugal, Spain, France and Italy.
Other investors include Armilar Venture Partners (the Portuguese venture capitalist behind the unicorns Outsystems and Feedzai), HJM Holdings, 1Sharpe (founders of Roofstock) and FJ Labs (Fabrice Grinda, founder of the OLX group), as well as existing investor Lakestar .
Founded by Mila Suharev, Nils Henning and Mitya Moskalchuk in 2018, Casafari leverages Europe’s often chaotic real estate data to achieve its goals, due to the lack of a unified Multiple Listing Service (“MLS”) .
Casafari plans to aggregate, verify and disseminate this data through its platform, tracking single-family homes as an asset class for institutional investors.
According to Nils Henning, CEO, “CASAFARI has built a unique ecosystem, which connects brokers, developers, asset managers and investors and enables the sourcing, valuation, underwriting and collaboration of transactions on units. unique in all asset classes. We are very excited to represent large institutional clients like Stoneweg and others, deploying their capital in large-scale fragmented acquisitions, bringing more liquidity to the market and generating more deals for them. broker clients of our platform.
Private investors are already using the platform. Since its launch in 2018, Casafari has been used by Sotheby’s International Realty, Coldwell Banker, RE / MAX, Savills, Fine & Country, Engel & Voelkers, Keller Williams franchises and major institutional investors and developers like Stoneweg, Kronos, Vanguard and Vic Properties.
Mila Suharev, Co-CEO and CPO of Casafari, said: “There is currently around 70 billion euros of dry powder in Europe that could be allocated to the acquisition of residential properties as part of a strategy of buy for lease, and basically there is no offer available. The property will be collected in portfolios, made up of individual units that pension funds, private equity real estate funds, want to build in Europe as they do in the United States.
Much of what Casafari does is follow the manual of what Roofstock in the US has done: an online marketplace for investing in single-family rented homes. Roofstock has raised $ 132.3 million to date.