It has always been an appealing thought to own property across the globe, notably in cities of developed countries. However, in an attempt to create a new invest-and-experience asset class for fractional home ownership, London-based proptech Lilo is making global property shares interactive and collectible having secured a €3 million investment.
The startup which was founded this year by ‘Emily Chan’ and ‘Christopher Lass’ is poised to offer a target market of young professionals the chance to join what is understood to be an exclusive club of people owing global real estate, having successfully secured a €3 million pre-seed funding round. The new capital was backed by 468 Capital, followed by Presight Capital and select angel investors, a source familiar with the matter has confirmed.
Regarding the startup’s platform, it operates on a membership basis. This enables members to enjoy an enriched mobile lifestyle, a reflection of the growing trend of workcations coupled with increasing numbers of digital nomads, by collecting shares in global real estate. In an attempt to fulfill its mission, the team is at the moment purchasing high-end residential properties in the desired location across the globe, which ensure ownership is split into up to 8 fractions.
The General Partner at Presight Capital, ‘Fabian Hansen’ 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”.
To ensure the concept of high-end is kept to the core, proptech Lilo will offer its community exclusive access to curated properties across some of Europe’s most popular and desirable cities, including Amsterdam, Barcelona, London, Berlin, and Stockholm. This also aims to enable members to assemble a global property portfolio, without needing the mental and monetary burden that currently exists.
Responding to this development, Lilo’s co-founder ‘Emily Chan’ 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”.
Securing the latest pre-seed round is a major step with regard to the startup’s ambition. The fresh fund will be deployed for the expansion of its team who are eager to hit the ground running and snap up initial properties.
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