Casafari Raises $5.3M in Venture Debt Backed by BBVA
Deal News | Dec 02, 2024 | Aim Group
Portugal-based proptech company Casafari has successfully raised $5.3 million in venture debt from BBVA Spark, a tech investment arm of Spain’s BBVA bank, as per a statement by BBVA Spark. This strategic move marks an important financial milestone for Casafari, highlighting the increasing attractiveness of the proptech sector in Europe. Casafari, known for its real estate database solutions, aims to leverage this capital infusion to continue its growth trajectory. The financing arrangement signals BBVA Spark's continued interest in tech startups, particularly within the property technology domain. This deal not only showcases Casafari's potential in transforming property data access and management but also underlines the growing synergy between traditional financial institutions and emerging tech sectors.
Sectors
- Proptech
- Financial Services
Geography
- Portugal – Casafari is based in Portugal, highlighting the country's growing significance in the proptech industry.
- Spain – BBVA Spark is a subsidiary of the Spanish bank BBVA, situating the financial aspect of the transaction in Spain.
Industry
- Proptech – Casafari operates within the proptech industry, which focuses on using technology to innovate and improve the real estate sector.
- Financial Services – BBVA Spark, a financial entity providing venture debt, is part of the broader financial services industry.
Financials
- 5.3M USD – The amount of venture debt secured by Casafari from BBVA Spark.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Casafari | Target Company | Company | A Portugal-based company providing innovative real estate database solutions. |
| BBVA Spark | Investor | Company | A tech investment subsidiary of BBVA bank, focusing on supporting startups with venture debt. |
| BBVA | Parent Company | Company | A major global financial institution based in Spain and parent company of BBVA Spark. |