Berlin-based, MYNE Homes, a top-managed co-ownership provider for luxury vacation homes in Europe, has announced the closing of its €40 million Series A financing round, which included debt and equity financing.
Existing investors Motive Ventures and Scope Hanson joined the investment round headed by Limestone Capital AG, a renowned private equity firm committed to investing and generating value in the experience economy.
One year after MYNE’s direct competitor VillaCircle was acquired, the largest financing deal in the European proptech sector to date in 2024 was concluded. MYNE plans to use the money to grow its portfolio in current markets and advance the development of its finance platform and technology. Additionally, the business is expanding its service to clients in the Benelux nations and the UK by adding Croatia and Portugal to its list of additional destinations.
With this funding round, the company—which sells shares of vacation homes in six European countries—significantly expands its market footprint. MYNE Home, founded in 2021, raised over $60 million in debt and equity financing and now manages a substantial number of vacation home shares in the triple digits.
Fabian Löhmer, Managing Director of MYNE, stated:
“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.”
Nikolaus Thomale, Managing Director of MYNE, added:
“We are thrilled to have the strong trust of seasoned partners like Limestone Capital at our side and together we are making premium vacation homes an attractive asset class for retail investors being cautious about costs and resources.”
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Throughout the world, the cost of real estate has been rising in prime locations, which makes it especially challenging for younger investors to buy good properties. Even with the high price tag, purchasing and owning a holiday property has been fraught with difficulties, such as the tax and legal barriers that arise while looking for homes overseas and the high overhead and vacancy costs. Many people find that owning a vacation home is an unattainable ideal due to the present economic climate, which includes high loan rates, inflation, and noticeably higher upkeep expenditures.
With the help of MYNE’s technologically advanced co-ownership platform, individuals may combine their funds and purchase upscale holiday properties, which simplifies and lowers the cost of ownership. In addition, more investors share in the advantages of ownership, like appreciation and rental income. Further, MYNE offers the chance to invest as little as 50,000 euros in equity to own shares in prestigious vacation villas in well-liked vacation spots. You can use the property for at least 6.5 weeks out of the year if you own a share. Co-owners can pay a monthly fee through the Internet platform to have the properties managed for them on an ongoing basis, including furnishing, operating, and maintenance. MYNE guarantees every co-owner the freedom to utilize their property as they see fit, thanks to an intelligent scheduling system. MYNE also supports co-owners who wish to sell their shares to another.
Investors Statements:
Limestone Capital CEO Benjamin Habbel said:
“We are excited to spearhead this major investment in MYNE. Their creative method of co-ownership is revolutionizing the holiday home industry and opening up luxury property ownership to a wider range of people. The largest funding round in the European proptech industry this year, at €40 million, demonstrates our dedication to assisting technology-driven platforms that are redefining entire industries. This is in line with our approach of supporting experience economy platforms that create value, and we do not doubt that MYNE’s capable leadership and distinctive product will propel the proptech industry’s continued expansion and prosperity in Europe.”
Michael Hock, Partner at Motive Ventures, stated:
“It is impressive to see what the MYNE team has achieved under the leadership of the two founders since our first investment in 2022 – despite difficult market conditions. We are thrilled that MYNE is now without a doubt the market leader in Europe and that our investment thesis—that is, to make this alluring asset class available to more private investors—has proven to be successful.”
