The trend of co-owning holiday properties is growing as the rate of inflation and real estate prices are on the rise. Catching up on this trend, Berlin-based startup MYNE, which allows users to invest in shared holiday homes, has scored €23.5 million in a seed funding round in one year of the launch of its digital co-ownership platform.
List of investors
The capital injection comprises debt and equity funds and it has come from Ramin Niroumand’s FinTech Fund, embedded/capital, HomeToGo founder Nils Regge’s family office, TruVenturo, Scope Hanson, Rivus Capital and CoastCap from Finanzcheck founder Moritz Thiele. Existing investors, including renowned business angels such as Hakan Koç (Auto1) and Christian Gaiser (numa stays) joined this round.
MYNE will deploy the funds towards further development of the business, including the European expansion of its technology and financing platform. Currently, MYNE is available to customers in Germany, Austria and Switzerland but it is in plans to open up its platform to users across Europe. It will soon add high-quality properties in popular holiday regions across Italy and France.
Michael Hock, General Partner at embedded/capital commented: “In an exceedingly fragmented market with diverse stakeholders, technology is critical to successful cross-border property investment. This is where MYNE Homes is building a unique platform, which we are proud to back as part of this round.”
Victor Schlenkhoff, Managing Director at Scope Hanson, commented: “MYNE has created a disruptive and very successful business model that enables more people to own real estate – we want to be part of this development.”
MYNE Co-Founders Nikolaus Thomale and Fabian Löhmer added: “There is a growing interest in jointly owned holiday properties for owner-occupation and rental. Our digital all-in-one offer has been very positively received by the market. With this investment, we will further expand the digital platform for existing and future co-owners, open up new properties in attractive locations, and further expand our European market leadership.”
Digital co-ownership platform
Until now, buying and maintaining a holiday property abroad has been a complex process due to various factors such as finding and inspecting the property, the complex linguistic, tax process, and legal hurdles, among others.
Founded in 2021 by Nikolaus Thomale and Fabian Löhmer in Berlin, the co-ownership platform MYNE presents the opportunity to purchase shares in a high-quality, individual holiday property in popular holiday destinations. With MYNE, customers can acquire shares in high-quality holiday properties in popular holiday destinations, with minimum investments starting from €50,000. Also, it takes care of the furnishing, maintenance, and professional management of the property.
With MYNE, interested buyers can choose from a portfolio of over 30 high-quality holiday properties in sought-after destinations at home and abroad, including the Austrian Alps, Mallorca and Portugal.
The smart scheduling system ensures that all co-owners can use their property according to their personal preferences. When the property is not used by the co-owners, MYNE rents the same. The platform helps with the marketing and sales process for co-owners who wish to sell their shares in the property.