Lilo, a London-based proptech startup, has raised €3 million in funding to provide a platform for investing and experiencing fractional property ownership. 468 Capital took the lead in the pre-seed round, followed by Presight Capital and angel investors.
The money will help the business hire more employees and buy its first pieces of real estate.
Real estate needs to be reimagined to better suit our more adaptable style of living, according to Emily Chan, co-founder of Lilo. To do so, we’re developing a new asset class. By acquiring shares in our properties, our members gain access to the most prestigious cities in the world with the help of our in-house sourcing and valuation expertise.
Lilo is a new platform being developed by Emily Chan and Christopher Lass in April 2022 for people who wish to invest in and enjoy the most sought-after residences in European cities.
In prestigious European cities like Barcelona, London, Amsterdam, Stockholm, and Berlin, the company grants its members unique access to carefully selected apartments.
“Seeing individuals sign up for our waiting list has proved the substantial demand for this new invest-and-experience asset class,” says Christopher Lass. In the upcoming months, we can’t wait to debut our first fractional properties.
According to Lilo, the eight-person team is seeking to buy upscale homes in desired regions with ownership divided into up to 8 fractions.
This indicates that there will be eight co-owners who jointly own the property. A person may, however, purchase up to four of the appropriate shares for each property.
“The new generation of working professionals and creatives works toward a flexible lifestyle but yet remains meticulous in collecting a varied range of investments,” says Fabian Hansen, General Partner at Presight Capital. Real estate is an essential component of any well-balanced portfolio due to its stability. We adore Lilo because it merges the best of both worlds, and we are overjoyed to be a part of this adventure.
Image Credit: Lolo