By: Luke Jones, Published on April 5, 2017 03:48 PM, Last Update on April 11, 2017 12:14 PM
Aviva Canada announced on Wednesday a new equity partnership with real estate marketplace and brokerage Casalova. In a press release, the company says its Aviva Ventures division has invested $2.5 million into the growth of Casolova.
The partnership will help grow the start up’s “unique real estate marketplace offering”. The investment comes as part of Aviva Ventures’ overall commitment to invest $170 million in global start-ups over the next five years. The company says the initiative is for “businesses that will continue to disrupt and transform the insurance industry.”
“A digital first strategy – which is an Aviva mandate globally – means more than a ‘state of the art’ website,” said Ben Isotta-Riches, chief information officer at Aviva Canada, in the release. “A true digital focus means looking beyond our industry and partnering with start-ups offering new and creative experiences that add value for our customers and theirs.”
Casalova is an online-based platform that proves end-to-end real estate. The marketplace makes buying and renting property more efficient and allows users to search for homes, schedule viewings, make rental and mortgage payments, and make property offers all online. The company was founded in May 2015 and has expended to 140 cities and provides 120,000 listings across Canada.
Aviva Canada also became the first non-UK division to make an investment from the Aviva Ventures initiative. The company has been looking for Canadian digital stat-ups since last October.
“With a keen interest in disrupting the way customer needs are addressed, Aviva heard from a short-listed group of 10 start-ups vying for their share in a potential $10 million (CDN) investment,” the release said.
Ben Luckett, managing director of Aviva Ventures, describes the first investment in the Canadian marketplace as “momumental. We’re excited to be working with Casalova and to learn from each other to help grow, enhance and continue to disrupt the marketplace. We believe Casalova is making a huge difference in the real estate market at a time where the industry desperately needs it.”