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German proptech MYNE bags €40M to disrupt vacation property ownership in the UK and Europe

MYNE Founders
Image credits: MYNE

MYNE, a specialist in the co-ownership of vacation homes, has raised €40 million in Series A funding. This is touted to be the largest financing round in the European proptech sector to date in 2024. The equity and debt round was led by Limestone Capital with existing investors Motive Ventures and Scope Hanson also involved. 

Previously, the vacation proptech startup raised €23.5 million in 2022 and acquired its rival VillaCircle last year. 

How will it use the investment?

MYNE will use the funds to further develop its technology and financing platform and expand its portfolio. The company also plans to expand into new markets, including Croatia and Portugal. It also aims to expand its offering to customers in the Benelux countries and the UK.

Benjamin Habbel, CEO of Limestone Capital, said Myne’s approach to co-ownership is “transforming the vacation home market, making premium property ownership accessible to a broader audience. This underscores our commitment to supporting technology-driven platforms that redefine industries. This aligns perfectly with our strategy of backing platforms that unlock value in the experience economy and we are confident that Myne’s strong leadership, and unique offering will drive continued growth and success in the European proptech sector.”

What challenge does it tackle?

Property prices in popular areas worldwide are rising, making it hard for young investors to buy quality properties. Despite the costs, owning a vacation home comes with challenges like taxes, legal issues, and high vacancy and upkeep costs. High interest rates, inflation, and increased maintenance costs in today’s economy make buying a holiday home an unrealistic dream for many.

The tech-driven co-ownership platform MYNE allows individuals to pool their resources and invest in premium vacation homes, thus making ownership much easier and more affordable.

What does the company do?

The proptech platform 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.

MYNE enables its customers to purchase shares in vacation properties and gives them the right to use the property for at least 6.5 weeks per year.

Its 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.

Nikolaus Thomale, managing director of Myne, said, “The funding round we announced today will empower us to embark on our next phase of expansion and growth, as we enable even a higher number of people to own their own second home. Our offer not only gives ownership to more people and addresses the ’empty bed’ problem, but makes properties more efficiently utilized and enjoyable. It also incorporates eco-friendly features and smart home technologies to ensure a minimal environmental footprint and a high level of comfort. With the backing of Limestone Capital, we can accelerate our growth, expand our portfolio across Europe and continue to enhance our technology platform and owner services.”

What do we think about MYNE?

The company is bringing a change in vacation home ownership by enabling co-ownership, and making premium properties accessible and affordable. By offering a tech-driven platform for purchasing shares in vacation homes, It addresses high property costs, maintenance, and underutilisation issues. 

The company’s efficient management, smart scheduling, and eco-friendly features enhance the ownership experience. With strong leadership and innovative solutions, MYNE is poised to significantly impact the European proptech sector, promoting sustainable and enjoyable vacation home ownership.

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