This is the first round of funding for the company which ensures part ownership in holiday homes
Holiday home fractional ownership platform ALYF has raised $1.5 million or Rs 11.25 crore seed capital led by 9Unicorns and Venture Catalysts.
This is the first round of funding for the company which ensures part ownership in holiday homes.
The fresh capital will be used for expansion, marketing and enhancing technology capabilities, the company said in a press statement.
"We want to empower everyone to own their holiday homes. Through our innovatively designed business model, we have tried solving the problems associated with owning a holiday home. Including the ticket size, you can now legally own a holiday home starting at INR 25 lakh in the best holiday destinations," said Saurabh Vohara, founder and CEO, ALYF.
Founded in June 2022 by Saurabh Vohara and Karan Chandiok, ALYF is a marketplace that makes holiday home ownership accessible to the middle class.
The company offers a smart ownership model where a property can be owned individually or by a group of 8 owners. In return, individual owners get 44 days for self use or put it on rental to third parties.
ALYF already has a mandate of more than 10 properties across Lonavala, Goa, and Alibaug, and the team is targeting sales of INR 100 CR in the next 12 months
While the company doesn’t have any direct competition, Pacasso in the US and Kocomo in Mexico are similar companies which work on a fractional ownership model.