MYNE, based in Berlin, enables individuals to own shared real estate for one-eighth of the cost.
MYNE, a shared ownership provider, has raised €40 million in a Series A round led by Limestone Capital AG. The round, which also included investors such as Motive Ventures and Scope Hanson, was the largest investment in the European proptech sector to date.
MYNE, based in Berlin, enables individuals to own shared real estate for one eighth of the cost. MYNE takes care of the management and maintenance of the property while the users own property in summer locations with flexible use throughout the year. A user has the right to use the property for at least 6.5 weeks a year, and can also put their shares up for sale if they wish.
The initiative, which makes individuals the owners of summer houses in many popular vacation spots in Europe, carries out partner sharing through reservation. Users who share the property mark the date they will arrive on the application so that there are no problems such as overlapping. MYNE also provides individuals with opportunities such as doorstep grocery shopping and travel organization during their holidays.
With the investment, the startup plans to expand into Croatia and Portugal.
“The financing round we announced today will enable more people to own their own second home and enable us to move into the next phase of expansion and growth,” said Managing Director Nikolaus Thomale.
Fabian Löhmer, Managing Director, added: “We are delighted to have the strong confidence of experienced partners like Limestone Capital and together we are making premium vacation homes an attractive asset class for retail investors who are mindful of costs and resources.”
