MYNE receives €40 million

MYNE secures €40 million to scale vacation home co-ownership.

Berlin, August 1, 2024 - MYNE, a managed co-ownership provider for vacation rental properties, today announces the successful completion of its €40 million Series A financing round. The financing round, led by private equity firm Limestone Capital AG, is the largest ever in the proptech sector in Europe in 2024, significantly strengthening MYNE's market presence one year after the acquisition of direct competitor VillaCircle.

We are very pleased to be in the lead of this significant investment. MYNE's innovative approach to vacation home co-ownership is changing the market and making premium ownership accessible to a wider audience.

Benjamin Habbel, CEO of Limestone Capital

Expansion of the technology and financing platform

With the new capital, MYNE plans to further expand its technology and financing platform. In addition, the portfolio will be expanded in existing markets and the company is expanding into Croatia and Portugal. There are also plans to expand the offering for customers from the Benelux countries and the UK.

Support from experienced investors

The financing round comprises equity and debt capital and is led by Limestone Capital. Other investors include Motive Ventures and Scope Hanson. Since its foundation in 2021, MYNE has thus raised over 60 million euros in equity and debt capital and now manages a high three-digit number of shares in vacation properties.

It is impressive to see what the MYNE team has achieved under the leadership of the two founders since our first investment in 2022 - despite difficult market conditions.

Michael Hock, Partner at Motive Ventures

Back in 2022, we reported on a successful successful €23.5 million round for the startup.

Advantages of the co-ownership model

MYNE's co-ownership model significantly lowers the financial barriers to entry when buying a vacation property and simplifies ownership through the use of modern technology. Customers can acquire shares in vacation properties in popular vacation destinations from an equity of 50,000 euros. One share corresponds to an average of at least 6.5 weeks of usage rights per year. MYNE takes care of the furnishing, maintenance and professional management of the properties and, if desired, rents out the periods not used by the co-owners.

With the capital available to us, we are now initiating the next phase of growth and will thus enable even more people to own their own vacation property.

Nikolaus Thomale, Managing Director of MYNE

According to a study conducted by Ernst & Young in January 2022, co-ownership gives 19 times more people access to vacation properties than individual purchases. Co-ownership also reduces the vacancy problem in many vacation regions.