Platform Alyf for fractional ownership in vacation homes has raised $1.5 million (Rs 11.25 crore) in a seed round that was led by Venture Catalysts and 9Unicorns.
Startup founders including Saurabh Garg, Amit Agarwal, Akhil Gupta of NoBroker.com, Kunal Shah of Cred, Arjun Vaidya of Dr. Vaidya’s, Dr. Ritesh Malik of Innov8, Pravin Agarwal of Better Place, Mitesh Shah of Credence family office and industry veterans like Juggy Marwaha, Vivek Chandy, Pradeep Lala, Viren Miskita, Apurva Salarpuria also participated in the round.
The firm will use the money for brand marketing, business growth, and technical advancement to democratise the market.
“We want to empower everyone to own their holiday homes. Through our innovatively designed business model, we have tried solving the problems associated with owning a holiday home,” said Saurabh Vohara, founder and chief executive officer of Alyf, in a statement.
Saurabh Vohara, a former executive of NoBroker, and Karan Chandiok started the company in June 2022. The platform is designed to make investing in vacation properties possible for the aspirational middle class. The idea is comparable to firms offering fractional ownership of vacation properties like Pacasso in the US and Kocomo in Mexico.
ALYF is India’s first technology-enabled marketplace that makes holiday home ownership commercially accessible, enjoyable and hassle-free for one and all. Their innovative co-ownership model is a unique combination of owning an aspirational, fully managed holiday home, along with the financial upside from the real estate investment.