Funding Alert

Holiday home fractional ownership platform ALYF raises $1.5 mn in a seed funding


ALYF, the Mumbai-based holiday home fractional ownership platform, has raised $1.5 million in a seed funding round led by 9Unicorns and Venture Catalysts.

With regards to the company’s statement, the raised capital will be used by the startup for business expansion, brand marketing and enhancing technology to democratise the space.

“The pandemic was an eye-opener for all of us. Confined to our city homes with little space to thrive, most of us wished we had a holiday home. Some need a quiet place to work, and some need enough space for their children to run and family members to coexist while creating memories,” said Saurabh Vohara, Founder and CEO of ALYF.

The platform offers a smart ownership model where a property can be acquired individually or by a maximum of 8 owners (12% each).

In return, Each smart owner gets 44 days for self-use and has the option to put it on rent to third parties. ALYF says it ensures the properties are curated through several parameters, inclusive of the best-negotiated price, extensive legal & due diligence, best-in-class architecture and bespoke interiors. It said consumers could also opt for the Zero maintenance offer of ALYF.

 ALYF

“Our research shows that 78% of individuals earning upwards of INR 30 Lakhs annually aspire to own a holiday home. As per our estimates, the current market size in India is $3 billion and has the potential to grow to $15 Billion in the next three years, if the hassles around ownership and management can be addressed smartly,” Saurabh said.

Founded in June 2022 by Saurabh Vohara (Ex-Business Head of NoBroker) and Karan Chandiok, ALYF claims to be building India’s first technology-enabled marketplace that makes holiday home ownership accessible, enjoyable, and hassle-free.

 

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