Myne, a specialist in the co-ownership of vacation homes, has raised €40 million in Series A funding.
The equity and debt round was led by Limestone Capital with existing investors Motive Ventures and Scope Hanson also involved.
Germany-based Myne, which was founded in 2021, said the funds will go toward expansion in existing markets as well as the development of its technology and finance platform. The company is also establishing a presence in Croatia and Portugal and has further plans to bring its offering to the Benelux countries as well as the United Kingdom.
Myne enables its customers to purchase shares in vacation properties and gives them the right to use the property for at least 6.5 weeks per year. It also facilities management of the properties for an additional monthly fee and provides co-owners with access to a scheduling system.
Nikolaus Thomale, managing director of Myne, said, “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.”
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Commenting on the funding on LinkedIn, Thomale said, "Our offer not only gives ownership to more people and addresses the 'empty bed' problem, but makes properties more efficiently utilized and enjoyable. It also incorporates eco-friendly features and smart home technologies to ensure a minimal environmental footprint and a high level of comfort. With the backing of Limestone Capital, we can accelerate our growth, expand our portfolio across Europe and continue to enhance our technology platform and owner services."
Benjamin Habbel, CEO of Limestone Capital, said Myne's approach to co-ownership is "transforming the vacation home market, making premium property ownership accessible to a broader audience."
He added, "This €40 million round, the largest in the European proptech sector this year, underscores our commitment to supporting technology-driven platforms that redefine industries. This aligns perfectly with our strategy of backing platforms that unlock value in the experience economy and we are confident that Myne's strong leadership, and unique offering will drive continued growth and success in the European proptech sector."
Myne announced the acquisition of market rival VillaCircle in March 2023.