Clikalia raises $86M to expand its marketplace

Clikalia, an iBuyer, has received €75 million ($86 million) to expand its approach to European and Latin American markets. iBuying is a method of selling real estate that involves a strong middleman that purchases properties, redevelops them at scale, and then resells them to new homeowners at a profit.

The company’s main markets are Spain and Mexico, where it has a current acquisition rate of 2,400 properties. By way of reference, Clikalia announced a 1,800 run rate only a month ago when it raised $518 million ($70 million in equity; the rest in debt) to scale the business.

The financing is co-led by SoftBank Vision Fund 2 and Fifth Wall, with participation from existing investors Luxor Capital and Guillaume Pousaz.

Clikalia will use the funds to expand the business, according to Alister Moreno, the CEO who co-founded the company with Pablo Fernandez. Clikalia will use the funds to expand the business, both by taking it to more cities in its key markets and by entering other countries. It’s already working in Portugal, and France is next on the list, according to our sources.