Proptech startup MYNE Homes has just raised €23.5 million for its fresh approach to holiday home ownership. The Berlin-based platform is bringing a fresh approach to co-ownership and growing fast.
Across Europe the real estate market is soaring – rising market prices and increasing rentability are making investments in holiday properties more and more attractive. This, combined with a new lifestyle approach regarding work-life balance, that is seeing more people take ‘workcations,’ has meant that Europeans are investing more into the sector.
Berlin-based startup MYNE, founded in 2021, has just picked up a seed funding round of €23.5 million with its platform that is enabling people to invest in shared holiday property. The funding round saw contributions from Ramin Niroumand’s FinTech Fund, embedded/capital, HomeToGo founder Nils Regge’s family office, TruVenturo, Scope Hanson, Rivus Capital, CoastCap, and, from Finanzcheck founder Moritz Thiele. They join existing investors including renowned business angels such as Hakan Koç (Auto1) and Christian Gaiser (numa stays).
MYNE Co-Founders Nikolaus Thomale and Fabian Löhmer said: “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.”
Via the proptech platform, customers can acquire shares in high-quality properties in popular holiday destinations. Minimum investments begin at €50k making it an accessible investment opportunity – and given the lucrative and low-risk nature of property investment, it’s an attractive prospect. With a smart scheduling system, co-owners can rest assured that they can use their property according to their personal preferences.
The MYNE team take care of the furnishing, maintenance and professional management of the property, making investments relatively hassle-free. Further, the startup also has the capacity to take over renting of the properties when they’re not being used by the co-owners if needed. It also helps with marketing and sales processes should customers eventually want to sell their shares.
Whilst the prospect of owning a holiday home has always been attractive, for many it’s remained a pipe dream rather than a reality. Buying a maintaining a property abroad is a complex and costly process – from finding and inspecting the property to the complex linguistic, tax and legal hurdles to jump through. And that’s before considering the financial and management aspects of the purchase.
MYNE Homes, however, is changing the game. Making the dream of holiday home ownership a reality through its co-ownership model.
Victor Schlenkhoff, Managing Director at Scope Hanson, said: “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.”
Currently, interested buyers can choose from a varied portfolio of quality properties in sought-after destinations including the Alps, Mallorca and Portugal – so whether you’re more a fan of mountain hiking or beach-lazing, it has you covered. The startup is also planning to expand to add properties in Italy and France soon.
Currently available to German, Austrian and Swiss customers, this new funding will be used to open up the platform to users across Europe and enter new markets.
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.”