Flyway, a London and Athens-based propTech company offering fully-managed second home co-ownership, announced that it secured $10 million in seed and debt funding from a number of institutional and angel investors.
Notable investors and lenders participating in the round include Signal ventures, Monday Capital, and GroupRMC, along with PropTech Angel Investors Florian Hagenbuch and Alex Chatzieleftheriou.
Proceeds from the round are used to acquire and sell Flyway's first London properties.
Flyway targets the international city's second home market, known as pied-à-terre.
Company: Flyway Technologies LTD
Raised: $10.0M
Round: seed and debt
Funding Month: Aug 2022
Lead Investors: Signal Ventures, Monday Capital, GroupRMC,
Additional Investors: Florian Hagenbuch and Alex Chatzieleftheriou
Company Website: https://flyway.app/
Software Category: Real Estate Application Software
About the Company: Founded by Nikos Drandakis and Sanja Ilic, Flyway offers proprietary planning technology and professional property management (cleaning, repairs, and maintenance), as well as a marketplace to buy and sell shares of second homes in town, and serves as an alternative to hotels, rentals, and home-buying. Flyway removes all impediments to second home co-ownership, such as demand aggregation, property management, and scheduling. Flyway's solution also includes professional property management and technology to make owning and staying in the home simple and easy for all co-owners. Flyway organizes the ownership group, manages the legal process, and provides the technology so that owners can schedule time easily and fairly. Flyway, which has offices in London and Athens, focuses on the international city second homes market, also known as pied-à-terre.
Source: https://www.prnewswire.com/news-releases/flyway-launches-to-create-new-category-of-pied-a-terre-ownership-secures-10-million-in-seed-and-debt-funding-301610719.html