Clikalia, an European digital real estate platform for home buying and selling, has raised 460 million euros in Series B funding. FifthWall led the round.
Spain — Clikalia, the leading European digital real estate platform for home buying and selling, announced today that it has closed the largest venture capital round ever in Spain with Eur460 Million.
The Series B equity investment was led by FifthWall, the largest venture capital firm focused on proptech with over $2.5 billion in commitments and capital under management, and an investor in similar unicorn companies like Opendoor, Loft, among others. As part of the Series B financing, Clikalia announced today the acquisition of Inmho, the leading property management company in Spain, which will provide access to over 250,000 residential units and expand the company’s property management capabilities while giving access to +4,000 iBuying opportunities per year within Inmho portfolio.
Founded in 2018 by Alister Moreno and Pablo Fernandez, Clikalia guarantees sellers immediate liquidity through an offer on their property as quickly as within 24 hours and if accepted, a sale within 7 days. Clikalia leverages proprietary technology to digitize a traditional slow and painful home selling process for sellers and sells fully renovated ready to move apartments to consumers directly.
Luxor Capital, the New York-based multi-billion dollar investment fund with long experience investing in public and private companies in the consumer internet and technology sectors (they invested in US iBuyer Offerpad), and existing investor Mouro Capital also participated in the round, following their participation in the Series A in 2020. Deutsche Bank, one of the leading European investment banks, provided additional debt financing to expand Clikalia’s operations in Spain and other southern European markets.
Clikalia is currently at run-rate of over 1,800 properties acquired per year (8x times growth vs. one year ago), and a team of over 600 people. The company plans to use the latest round of funding to expand across Europe, starting with the launch in Portugal in 1Q 2022. The company is also expanding into new product categories offered to their clients like mortgage financing and home insurance.
“We’re aiming to create a real estate ecosystem reinventing the way people buy and sell homes focusing on the customer needs,” said Clikalia founder Alister Moreno. “Our latest round of funding, which includes previous investors and the entrance of new investors with high knowledge of the iBuyer industry like Fifth Wall and Luxor reinforces our commitment to disrupt the market, leveraging a tech-enable platform to simplify the home transaction process for consumers, while providing additional value-added services.”
Miguel Nigorra, Partner and Head of Europe for Fifth Wall commented: “We are very excited to partner with Clikalia and support them in their goal to become the dominant residential real estate transactions platform in Europe. We were impressed by Clikalia’s management team, the company’s growth, and their best-in-class business metrics. The European market is a core focus for Fifth Wall, and we are very happy to support successful entrepreneurs like Alister and Pablo and to contribute to the innovation of the property industry.”
The capital financing and acquisition of Inmho constitutes a huge advantage for Clikalia in their journey to establish the company as the preeminent residential real estate brokerage platform in southern European countries.
The residential real estate market in Europe is a 1 trillion (EUR) opportunity. However, the process of selling a home in certain European markets remains extraordinarily time consuming and riddled with offline inefficiencies. Lack of data transparency and non-digitized processes contribute to long-sell times and uncertainty.
Clikalia offers a full digital experience that brings confidence to both sellers and buyers. They buy homes in less than 7 days from sellers, while offering buyers fully renovated and certified homes ready to move in with guaranteed high-quality standards. Clikalia also offers ancillary services with the transaction, like free home insurance on the first year and a closed price without unwanted surprises further down the process. Additionally, Clikalia has partnered with top financial institutions to offer the best financing options for their customers.
Since its founding, Clikalia has raised equity capital from angel investors such as Sergio Furio (Creditas co-founder), Inaki Berenguer (Coverwallet co-founder), Guillaume Poussaz (Checkout.com founder), Luis Sanz (Olapic co-founder), Frank D’Souza and Rajeev Mehtaand (Cognizant co-founders), Gina Diez Barroso, Iker Casillas, captain of the Spanish National Team that won the World Cup in 2010 and Rafa Nadal 20 times Tennis Grand Slam Winner.
Founded in 2018 by Alister Moreno and Pablo Fernandez, Clikalia is transforming the home buying and selling experience by turning complex, uncertain and slow processes into fast, simple and transparent transactions bringing immediate liquidity. The proptech company guarantees sellers an offer on their property as quickly as within 24 hours and if accepted, a sale within 7 days. Clikalia uses technology to create a fully digital experience, allowing them to offer their value proposition to a larger number of customers than traditional brokerage services. Clikalia has grown to +600 employees in 2021, and has been recognised recently by the European Business Awards, Euronext, E-nnovation Award, Top 100 SouthSummi and Cepyme. https://www.clikalia.com/.