Flyway, a London, UK-and Athens, Greece-based PropTech startup offering fully managed second home co-ownership, raised USD10M in funding.
The round was led by Signal ventures, Monday Capital, GroupRMC, Florian Hagenbuch and Alex Chatzieleftheriou.
The company intends to use the funds to acquire and sell the first properties in London.
Led by Nikos Drandakis and Sanja Ilic, Flyway targets the international second home market in town, or “pied-à-terre”. It provides proprietary planning technology and professional management of the property (cleaning, repairs, maintenance), creates a marketplace to buy and sell shares of second homes in town, and offers an alternative to hotels, rentals and home buying. Each house is converted into a property-specific LTD (limited liability company) with 12 shares. Buyers choose the share they want, for example, a quarter of the house guarantees them stays for a quarter of the year, and the company continues to sell the remaining shares to selected buyers. Owners have access to everything related to their second home via the app, including seamless reservation of stays, supervision of expenses shared with other co-owners, discussions with their “Home Manager”, and even the unlocking their home from their phone.
FinSMEs
25/08/2022