ALYF Raises $1.5 Million In Seed Funding
The startup will use the funds for business expansion, brand marketing and enhancing technology to democratize the space
ALYF, a technology-enabled marketplace that makes holiday home ownership accessible, enjoyable, and hassle-free, has raised $1.5 million in Seed funding led by 9Unicorns and Venture Catalysts. The startup will use the funds for business expansion, brand marketing and enhancing technology to democratise the space.
"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. Including the ticket size, you can now legally own a holiday home starting at INR 25 lakh in the best holiday destinations," said Saurabh Vohara, founder and CEO, ALYF.
ALYF already has a mandate of more than 10 properties across Lonavala, Goa, and Alibaug, and the team is targeting sales of INR 100 CR in the next 12 months. Currently, they do not have any competition in India, but the validation of the concept comes from successful holiday homes fractional ownership start-ups like Pacasso in US and Kocomo in Mexico, claimed by the startup in a statement.
"The innovative solution provided by ALYF in efforts to make a simple dream come true for many Indians is novel in intent, but also disruptive in the real estate market. Fractional ownership of holiday homes and a time-bound system of residency are unique ideas that stand to provide a simple, cooperative and accessible means for people to enjoy the luxury of owning a holiday home. It excites us to join ALYF in this creative venture and we look forward to the journey ahead," said Anuj Golecha, co-founder, Venture Catalysts.
Founded in June 2022 by Saurabh Vohara and Karan Chandiok, ALYF is a technology-enabled marketplace that makes holiday home ownership accessible, enjoyable, and hassle-free for one and all. The brand's innovative smart-ownership model is a unique combination of owning an aspirational, fully managed holiday home along with the financial upside from the real estate investment.