Clicpiso reports profitable first year
12 Oct 2018
Madrid-based proptech startup Clicpiso.com announced that it’s invoiced €5 million ($5.8 million U.S.) in its first year of business and has enjoyed “positive cash flow” for the past several months.
In a press statement, co-founder and CEO Francisco Moreno said Clicpiso reached break-even after four months and has grown by double digits since.
The company is the first iBuyer-style real estate agency in Spain. Moreno and co-founder Victor Ortiz (LinkedIn profile) worked in the United States and brought the model home to Spain. Clicpiso launched with backing from Spanish investors, including the executives of companies like Santander U.S., Aviva, Dunas Capital, Inverseguros, Aena, and LaFinca.
The company offers free valuations within 24 hours. If the offer is accepted, it completes the purchase within seven days. This is significant in a country where the average property takes 10 months to sell. So far, all sellers have given Clicpiso five-star reviews.
It has also been short-listed for two awards. It was among the top 20 out of 500 companies selected by property company Neinor in its startup competition and was one of nine finalists for a Country Award in BBVA Bank’s Open Talent fintech competition.