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Exor's diversification continues: after Philips, John Elkann's holding invests in the fintech startup N5 Now. While Casavo, an Italian real estate trading platform, is in the red. All the details.
Exor, the Dutch holding company led by John Elkann and owner of the Gedi publishing group, Stellantis, Juventus and more, participated in a financing round of N5 Now, an Argentine fintech (or fintech ) company.
Exor recently acquired 15 percent of Philips , a Dutch health technology company, as part of a broader expansion into the healthcare sector.
NOT JUST EXOR: WHO PARTICIPATED IN THE FINANCING OF N5 NOW
Together with Exor, important financial companies such as Illuminate Financial Management (invested by the banks JPMorgan, Citi, Barclays and BNY Mellon), Madrone Capital Partners (linked to the Walton family, which controls the retail giant) took part in the N5 Now financing cycle Walmart) and LTS Investments (owned by the Lehmann, Telles and Sicupira families).
WHAT N5 NOW DOES
N5 Now offers an integrated platform for the digitalisation of services offered by banking and financial institutions. It is present in thirteen countries, mainly Latin American (United States, Brazil, Argentina, Chile, Uruguay, Mexico, Ecuador, Colombia, Venezuela, Peru, Panama, United Kingdom and Spain), and is supported by MasterCard, Zurich, Santander, Microsoft and Google, among others.
The startup was founded in 2017 by a group of ex-bankers from the Spanish group Santander.
HOW'S HOME GOING
Exor instead suffers a blow from Casavo , an Italian startup specialized in the purchase and resale of renovated homes, whose consolidated accounts for 2022 are negative for 53 million. But revenues are increasing, to 300 million. In 2023, Casavo's real estate stock was reduced by 70 percent.
Exor's investment in Casavo dates back to 2021 and was confirmed in July last year with a financing round of 300 million euros in total led by John Elkann's holding company and participated by eva SGR (Intesa Sanpaolo Group), Endeavor Catalyst, Hambro Perks, Fuse Ventures Partners and others.
Casavo's founder and CEO is Giorgio Tinacci , who founded the company in 2017 after a short stint at consultancy firm Boston Consulting Group.
A year ago, Tinacci explained that Casavo aimed to strengthen its position in Italy, Spain and Portugal and to expand in France, defined as a "priority".
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/exor-n5-now-casavo/ on Sun, 24 Sep 2023 18:20:15 +0000.