Mouro Capital leads investment in the Spanish
November 10th - 2020
• This is the first investment of Mouro Capital in a Spanish startup
• Clikalia and Santander will work to build a strategic relationship around digital transformation and new businesses.
London/Madrid, 10th November 2020 – PRESS RELEASE
Mouro Capital, the $400 million successor fund to Santander Innoventures, today announced an investment in Clikalia, a Spanish online residential property platform which digitises the buying and selling of houses. The funding represents Clikalia’s Series A, which comes with a new debt facility to help accelerate growth.
Founded in 2017, Clikalia is the leading instant property buyer in Spain and was born with the aim of digitising the real estate sector. The company reduces the time it takes to sell a property significantly, making an offer in just 24 hours and, if accepted, will buy the property in 7 days. Clikalia uses technology and big data to improve and digitise processes, reselling homes within 120 days after making them more sustainable and energy efficient.
Since its inception, Clikalia has carried out more than 500 transactions with a team of 80 people in Madrid and Barcelona, positioning themselves as one of the leading proptechs in Spain. The company has maintained positive margins and has had a positive EBITDA since day one. Clikalia is looking to expand into new cities in the next few months.
Manuel Silva Martínez, General Partner at Mouro Capital, said: “Our aim is to support teams working on the future of financial services and buying a home is one of the most important financial decisions consumers will make in their lifetime. Clikalia is working on changing the housing status quo with a customer-centric vision, so supporting them was an easy decision for us.”
Mouro Capital invest for financial returns, but it also has the objective of, in selected cases, promoting deep and meaningful relationships between Santander, a limited partner in the fund, and its portfolio companies; and Clikalia perfectly meets both criteria. Silva Martínez added: “We are excited at the prospects of helping Clikalia be a very large company following international successes like Opendoor. Moreover, as Santander thinks about its customers’ real estate needs and the financing cycle around it, we believe Clikalia can be a driver for transformation and new business opportunities in Europe and Latin America.”
Manuel will join Clikalia’s board of directors and work together with Alister and his team to make Clikalia’s vision a reality.
Francisco Alister Moreno, Founder and CEO of Clikalia, said: “We are very excited to continue our journey with Manuel and the Mouro Capital team. Combining Mouro Capital and Banco Santander with what we have been building at Clikalia means that we can offer to customers the best of both worlds: a digital experience with the highest quality standards combined with the strength of one of the most important financial institutions in world.”
Pinsent Mason acted as legal advisor to Clikalia.
Founded in 2017 by Francisco Alister Moreno, Clikalia is transforming the home buying and selling experience by turning a complex, uncertain and slow processes into fast, simple and transparent transactions bringing immediate liquidity. The proptech guarantees sellers an offer on their property as quickly as within 24 hours and if accepted, a sale within 7 days. Clikalia are committed to applying technology to create digital contactless ways to buy and sell homes, bringing its value proposition to a larger number of people as the leader in home buying and selling in Spain. The company has been recognised recently by the European Business Awards, Euronext, E-nnovation Award, Top 100 South Summit and Cepyme.
About Mouro Capital
Mouro Capital is a venture capital firm backing entrepreneurs who are shaping the future of financial services. With $400 million in assets under management and supported by Banco Santander, Mouro invests across the fintech value chain in early to growth stage start-ups across Europe, North America and Latin America. Mouro has invested in over 30 companies such as iZettle (acquired by PayPal), Kabbage (acquired by American Express), Creditas, Curve, Ripple, Tradeshift, Trulioo and Upgrade.