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Proptech Tiko debuts in Portugal with purchase of asset in Lisbon
16 January 2020 | Ana Tavares

Spanish real estate proptech Tiko has just arrived in the Portuguese market and purchased its first asset, located in the Lisbon area, at the end of 2019.

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Present in Madrid, Seville, Malaga and Barcelona, the company led by Ana Villanueva wants to start operating in the Portuguese market this year, having planned the opening of a new office in Lisbon. This is the company’s first international incursion, which aims to reach 10 European cities in 2021, anticipating in two years its initial strategic goals which aimed at 2023.

The proptech’s business model is based on selling assets to private entities in a maximum of seven days, after offering the owners an estimate within 24 hours. The final price is calculated using big data before carrying out a technical and legal inspection of the floor.

Tiko started in Madrid in 2017 and it is currently responsible for around 1% of all real estate transactions carried out in the Spanish capital, mentioned Spanish daily newspaper Eje Prime. At the beginning of 2019 it arrived in Barcelona and Malaga, where it planned to reach the same volume reached in Madrid within six months.

In 2019, Tiko received 12.000 estimate requests in Madrid, which, according to Villanueva, represents around 9% of all transactions carried out in the Spanish capital, a number she expects to reach in Barcelona and Malaga in 2020.

Without disclosing any numbers, Tiko informed that last year it trebled its income when compared to 2018. It also managed to gather 42 million euro in financing, both through debt and equity and it expects to gather more financing this year. Tiko currently has such investors as Rocket Internet, Cabiedes or Btov.