Fintech Lilo wants to enable partial property purchases in metropolises such as London or Barcelona. If you buy at least one eighth of the furnished apartment, you can also live in the rooms for up to 45 days a year. Investor funds are now available to get started.
The corona crisis has shown that it is also possible to work from other cities, says German founder Christopher Lass. Cities like London or Barcelona are popular with young people under the keyword “workation”. With the British startup Lilo, Lass and his co-founder Emily Chan want to address a target group that sometimes buys an apartment in these cities.
Emily Chan, co-founder at Lilo says, “Real estate needs to be re-imagined to better suit our increasingly versatile way of living. We’re creating a new asset class to achieve precisely that – collecting shares in our properties gives our members access to the most sought-after cities in the world, aided by our in-house sourcing and valuation expertise.”
Invest and Experience
Founded by Emily Chan and Christopher Lass in April 2022, Lilo is creating a new platform for those who want to invest and experience the most sought-after properties in European cities.
The company offers its community exclusive access to carefully curated properties across top-tier European cities such as Barcelona, London, Amsterdam, Stockholm, and Berlin.
Christopher Lass is looking forward: “Seeing people sign up to our waiting list has proven the robust demand for this new invest-and-experience asset class. We’re so excited to release our first fractional properties over the coming months.”
Based on the model from the USA
The inspiration is the successful US startup Pacaso, in which financiers such as Softbank and Rockets Global Founders Capital have invested a total of around 1.5 billion dollars. European startups like Myne and Lilo now want to attack in Europe. The Berlin company Myne focuses on holiday homes in other European countries. According to Lass, Lilo wants to appeal to a younger target group and concentrate more on the metropolises.
In the end, the business can be lucrative: Lilo adds 12 percent to the purchased furnished apartment and receives 2 percent for managing the apartment. In the coming months, it must now be shown that a solvent target group is buying into the start-up’s real estate. You have a direct interest in the property via your own company. Lilo wants to reduce the effort involved in buying a property abroad – and should offer access to good apartments.
The young company wants to use the real estate expertise of Emily Chan, who worked in the real estate business at Goldman Sachs and Apollo, to find good apartments. Christopher Lass used to be with the German startup Konux and is supposed to build the technical platform.
Split into 8 Shares
Lilo says the team of eight is working on purchasing high-end residential properties in desirable locations, with ownership split into up to 8 fractions.
This means, that 8 co-owners will share the legal ownership of the property. However, an individual can buy up to four out of the right shares per property.
Fabian Hansen, General Partner at Presight Capital says, “The a new generation of working professionals and creatives strives toward a flexible lifestyle but also remains diligent about collecting a diverse range of investments. Real estate’s stability makes it indispensable to any well-balanced portfolio. What we love about Lilo is that it combines the best of both worlds – we’re absolutely thrilled to be part of this journey.”