Germany: Following the completion of its €23.5 million seed financing round last July, holiday home co-ownership platform MYNE Homes has announced the acquisition of German competitor VillaCircle.
The takeover cements MYNE’s position among the market leaders for managed co-ownership platforms for holiday properties.
Having grown considerably since its market launch in 2021, MYNE will also expand its range in the luxury market. VillaCircle offers fractional ownership of luxurious holiday homes in Spain, Austria, Croatia, and on the Côte d’Azur, among others.
Nikolaus Thomale, founder and managing director of MYNE, said: “Acquisitions play an important role for us in further growth and underline our claim to be the leading platform for investments in holiday properties in Europe. With the expansion of the portfolio to additional destinations, and a strengthening of the offer in the luxury segment, MYNE is appealing to an even larger target group.
“Our strong growth is aided by globally high interest rates, inflation, and significantly increased maintenance costs for real estate,” he added.
Roland Schaber, founder and managing director of VillaCircle, said: “Since VillaCircle was founded almost two years ago, we have enabled our customers to achieve their dream of owning a holiday property with our managed co-ownership model. As a result of us joining forces with MYNE and the resulting stronger market position, we can now offer customers and partners an even broader high-quality range, and at the same time achieve the necessary scaling to make co-ownership a reality for more people.
“We look forward to overseeing the transfer of the VillaCircle offering to the MYNE platform,” he added.
Through MYNE, customers are able to purchase shares in holiday properties in popular holiday destinations for their own use and / or rental “at a click” from an initial investment of €50,000. MYNE takes care of all details of the investment, from property acquisition, sales, and tenant acquisition through to furnishing, maintenance and professional management of the real estate.
In contrast to the traditional timeshare model, customers acquire real property ownership in a share deal with all the corresponding rights, and can resell their share at any time.
Spearheaded in 2020 by American unicorn Pacaso, co-ownership is now trending globally and experiencing strong growth in demand across Europe. At a time of inflation and rising interest rates, co-ownership offers the best cost-benefit ratio for vacation property ownership, according to MYNE.
The acquisition will see MYNE take over the real estate and customer care of VillaCircle, while existing operations will be transferred to the MYNE platform.
Founded in 2021, Berlin-based MYNE has raised more than €23.5 million in equity and debt from investors to date. Its investors include FinTech Fund Motive Ventures by Ramin Niroumand and Michael Hock, the family office TruVenturo by HomeToGo founder Nils Regge, and the real estate-related investors, Scope Hanson and Rivus Capital.
MYNE currently offers properties in Germany, Austria, Italy, Spain, Portugal and France.