Casavo (Distress & Layoffs)
Milan iBuyer Casavo raised over €400M including from Exor (Agnelli) at a unicorn valuation, then conducted multiple layoff rounds and was reported to be in significant financial distress in 2024.
2017 → 2024
$525M
PropTech/iBuyer
Italy
Full Analysis
Milan-based Casavo was Italy's leading iBuyer (instant home-buyer), raising over €400M+ including a 2022 Series D from Exor (the Agnelli family holding) at near-unicorn valuation. Following the global iBuyer-model collapse (which also took down Opendoor's competitors and Zillow Offers), Casavo executed multiple rounds of layoffs in 2023 and 2024 and was widely reported to be seeking emergency financing as the Italian property market slowed. A defining Italian PropTech failure.
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