3 years ago

Flyway Secures $10 Million to Expand Second Home Co-ownership Platform

  • Flyway, a London, UK-and Athens, Greece-based PropTech startup offering fully managed second home co-ownership, raised USD10M in funding

  • The round was led by Signal ventures, Monday Capital, GroupRMC, Florian Hagenbuch and Alex Chatzieleftheriou

  • Flyway targets the international second home market in town, or “pied-à-terre”

  • It provides proprietary planning technology and professional management of the property (cleaning, repairs, maintenance), creates a marketplace to buy and sell shares of second homes in town, and offers an alternative to hotels, rentals and home buying

  • Each house is converted into a property-specific LTD (limited liability company) with 12 shares

  • Buyers choose the share they want, for example, a quarter of the house guarantees them stays for a quarter of the year, and the company continues to sell the remaining shares to selected buyers

  • Owners have access to everything related to their second home via the app, including seamless reservation of stays, supervision of expenses shared with other co-owners, discussions with their “Home Manager”, and even the unlocking their home from their phone.

      • ProblemPropTech

      "owning a second home in a different city can be expensive and logistically complicated"

      Solution

      "Flyway offers a co-ownership model for second homes, providing a way for people to own a share of a property and have access to it when they want, while also providing management and maintenance services"

      Covered on