MYNE, a managed co-ownership provider for premium vacation homes, has secured €40M in a Series A funding round through equity and debt financing. This significant investment marks a major milestone for the European proptech sector in 2024, coming just a year after MYNE acquired its direct competitor, VillaCircle. The company, which operates in six European countries, aims to use the new funds to enhance its technology and financing platform while expanding its property portfolio.
Expanding Market Presence
In contrast to earlier reports, the latest funding round not only highlights MYNE’s accelerated growth but also its strategic move into new markets such as Croatia and Portugal. The company is also targeting an expansion into the Benelux countries and the UK. This round was led by Limestone Capital AG, with participation from existing investors like Motive Ventures and Scope Hanson. Since its inception in 2021, MYNE has amassed over €60 million in equity and debt capital, managing numerous shares in holiday properties.
Investor Confidence
Nikolaus Thomale, Managing Director at MYNE, emphasized the potential the funding unlocks, enabling MYNE to enter its next phase of growth and allowing more people to own second homes. Fabian Löhmer, another Managing Director, expressed satisfaction with the confidence shown by experienced partners, stating that the collaboration makes premium vacation homes an attractive asset class for cost-conscious retail investors.
Previously noted challenges such as the rising property prices in prime locations and the associated difficulties for younger investors have been addressed by MYNE’s co-ownership model. This model allows individuals to pool their resources, making high-quality vacation homes more accessible. The current economic context, characterized by high interest rates and inflation, further underscores the appeal of MYNE’s solution. MYNE’s technology-driven platform simplifies the complexities involved in owning a vacation home, offering managed services for a monthly fee and a smart scheduling system for co-owners.
MYNE offers shares in prime holiday properties starting from an equity investment of €50,000, with each share entitling the owner to use the property for at least 6.5 weeks annually. The platform also supports co-owners looking to sell their shares, thereby providing a flexible and dynamic investment opportunity. The co-ownership model not only democratizes access to premium vacation homes but also aims to mitigate some of the traditional challenges associated with property ownership abroad.
The €40M funding round represents a significant step for MYNE in its mission to revolutionize vacation home ownership. By leveraging advanced technology and strategic market expansion, MYNE is well-positioned to make premium holiday properties accessible to a broader audience. Investors and potential co-owners can expect a streamlined, cost-effective way to enjoy the benefits of vacation home ownership without the usual hassles.
