Tiko, a leading technology-driven Spanish proptech company, has announced the acquisition of Housell, a significant competitor in the real estate sector. This agreement marks a milestone in Tiko’s mission to transform how people buy and sell homes.
With this operation, Tiko has become the largest digital real estate company in Spain and Portugal, both in terms of the number of regions in which it operates and the number of properties in its portfolio within the Spanish territory.
Furthermore, the acquisition of Housell aligns with Tiko’s strategy to strengthen its presence in the real estate market and accelerate its growth trajectory. By integrating Housell’s market knowledge with Tiko’s technological innovations, this operation is set to redefine the real estate landscape in Iberia, offering customers a streamlined, efficient, and transparent real estate transaction experience.
“Tiko’s ambition to lead the online brokerage market in Iberia is now closer than ever, thanks to the acquisition of Housell,” stated Sina Afra, CEO of Tiko. “We are excited about the possibilities this new chapter brings and are committed to leveraging our combined strengths to revolutionize the real estate buying and selling process.”
Since Tiko started its operations in 2017, the Spanish proptech has always been committed to sustainable growth in the business, achieving the best unit economics in the industry among their competitors.
Thanks to this premise, Tiko has been able to undertake this transaction. The economic conditions have not been disclosed, but it results in Tiko gaining full control over Housell as of today. As a result, Tiko will be able to service all Spanish regions, making it the largest digital real estate company in the country. As part of the deal, it is understood AVIV Group will retain a minority stake in Tiko.
“As part of the AVIV Group, Housell has established itself as a leading digital brokerage company in Spain with a substantial community of sellers and buyers over the past years. The company has demonstrated remarkable resilience and agility through challenging times. This transition to a new shareholder marks a strategic step for Housell’s next phase of development,” remarked Nicolas Dagousset, Chief Corporate Development Officer at AVIV.
Read the orginal article: https://www.eu-startups.com/2024/02/madrid-based-proptech-tiko-acquires-local-competitor-housell-to-consolidate-presence-in-spain/
