The Spanish proptech continues its expansion and has recently opened its second city in Spain, specifically in Barcelonaafter its consolidation in Madrid.
The expansion of Tiko will considerably reduce the average time for buying and selling homes in Barcelona, which amounts to more than four months, according to data from Tinsa. Launching your services will allow Barcelonans to shorten the terms of sale of their propertiesas is already the case in Madrid, where, according to the company, around 10% of the properties sold pass through its hands.
Tiko, founded in 2017, has the backing of large Venture Capital companies such as (Zalando, The Red Fridge), Cabiedes (BlaBlaCar, ) or btov (Westwing, ), and is led by two serial entrepreneurs: Anna Villanueva (at Spain level) and sina afra (at Europe level).
How Tico works
Its operation is very simple. This proptech values housing and make an offer for it in 24 hours, free of charge, and without the need to physically go to it. Once the offer is accepted, Tiko carries out a technical and legal inspection of the apartment, manages the transfer of ownership and makes the payment in a few days. Subsequently, Tiko is in charge of reforming the houses and selling them in a period not exceeding 90 days. His model is based on speed and volumethat is, it receives small margins on a large volume of transactions.
Main requirements requirements for a flat to be acquired by Tiko are: not having current or short-term tenants, being for residential use (not offices or farms), being in Madrid or Barcelona, having an elevator if its height is higher to a third floor, not be a semi-basement (with exceptions), have more than 40m² and a price of less than €400,000.
For Anna VillanuevaCEO of Tiko, “In the last year we have registered a great deal of activity and interest in our services in Barcelona, which has led us to speed up our expansion plans. Our intention is to be present in a city as important as this one to respond to that demand and, of course, to offer an agile and comfortable alternative to the people of Barcelona when buying and selling their homes”.
Leading your service in Barcelona will be Gorka Garcia as City Manager. “I am very excited about my new adventure at Tiko, as Barcelona has a very active real estate market with great potential. We hope to have the confidence of the people of Barcelona very soon and become a reference player for them in the sale of homes”.
After the success achieved in Madrid, the opening of Barcelona is part of Tiko’s expansion plan, which plans to open offices in different cities in Europe, including Lisbon and Milan, in the next years.
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