Proptech startup Lilo has just secured €3 million as it launches its mission to become a leading European invest-and-experience platform for fractional home ownership. Based in London, the company is establishing a new asset class.
Owning property across the world is an appealing thought. Many of us have often dreamed about having a flat in Barcelona, a townhouse in London, and a loft in Berlin. Creating a new invest-and-experience asset class, London-based Lilo is making global property shares interactive and collectable – bringing a target market of young professionals the chance to join the exclusive club of people owning global real estate.
The startup, founded in April this year by Emily Chan and Christopher Lass, has announced the successful close of a €3 million pre-seed funding round. The fresh capital was led by 468 Capital, followed by Presight Capital and select angel investors.
The proptech startup’s platform operates on a membership basis. It enables members to enjoy an enriched mobile lifestyle, reflecting the growing trend of workcations and increasing numbers of digital nomads, by collecting shares in global real estate. The team is purchasing high-end residential properties in desirable locations around the world, with ownership split into up to 8 fractions.
Fabian Hansen, General Partner at Presight Capital, said: “The new generation of working professionals and creatives strives toward a flexible lifestyle, but also remains diligent about collecting a diverse range of investments. Real estate’s stability makes it indispensable to any well-balanced portfolio. What we love about Lilo is that it combines the best of both worlds – we’re absolutely thrilled to be part of this journey.”
Keeping high-end to the core, Lilo will offer its community exclusive access to curated properties across some of Europe’s most popular and desirable cities, including Barcelona, London, Amsterdam, Stockholm and Berlin. The platform will enable members to assemble a global property portfolio, without the mental and monetary burden that currently exists.
Emily Chan, the co-founder at Lilo, explained the vision: “Real estate needs to be re-imagined to better suit our increasingly versatile way of living. We’re creating a new asset class to achieve precisely that – collecting shares in our properties gives our members access to the most sought-after cities in the world, aided by our in-house sourcing and valuation expertise.”
Gaining this pre-seed round is a major step for the startup’s ambitions. It’ll be used to expand the team who are eager to hit the ground running and snap up initial properties.