Naya Homes closes $5m seed funding round

Mexico: Mexico City-based short-term and vacation rental management platform, Naya Homes, the newest proptech company of its kind in Latin America [LATAM], has closed a $5 million seed round in order to fuel its growth throughout Mexico.

The round was led by seed-stage venture capital firm Flybridge Capital Partners with participation from Primary Venture Partners, Clocktower Technology Ventures, K50 Ventures, Carao Ventures, Trip Ventures, Colibrí Equity Ventures and Derive Ventures, in addition to several former executives from Uber’s Latin America team. It follows a $600,000 pre-seed round led by Primary Venture Partners in March.

With its core focus on creating value for real estate investors and homeowners, the company leverages its robust technology stack to help owners maximise the profitability of their properties, minimise their operational stress and provide them with greater visibility into real-time financial performance.

Jeff Bussgang, partner at Flybridge Capital Partners, said: “We believe Naya can deliver incredible value to numerous stakeholders across the residential real estate value chain at scale. Naya’s founding team is incredibly well-positioned, having on-the-ground experience managing operationally intensive businesses in LATAM, ranging from Uber to Sonder.”

As opposed to some other incumbents in the LatAm market who execute master leases on larger buildings, Naya Homes describes itself as an “asset-light operator”. The proptech is leveraging its funding to maximise profitability for all types of properties – from individual apartments to vacation villas – through innovative technology solutions.

Humberto Pacheco, co-founder and CEO of Naya Homes, said: “At Naya Homes, we’re focused on maximizing returns for real estate investors and homeowners. By removing operating complexity and providing enhanced visibility into financial performance, we will drive tremendous value to owners in destinations across Latin America.

“Long term, we will leverage our data to unleash the potential of this asset class in the region with other products and services that will enrich the owner experience,” he added.

Naya Homes began operations in Puerto Vallarta in August and will launch in Mexico City with a 15-unit building in Polanco in September.

Another Mexican proptech startup, Casai, merged with São Paulo-based residential apartment company Nomah last month, shortly after making at least 60 employees redundant in Brazil and at least 20 team members in Mexico. At the time, Bloomberg Línea claimed the company had told employees that it was running out of money and recommending that people search for new jobs as investor confidence in extending its Series A round waned.