ALYF Bags $1.5 M In Seed Round Led By 9Unicorns
ALYF addresses the problem of investing in holiday homes through a unique Smart Ownership model, where a property can be owned individually or by a maximum of 8 Smart-Owners.
ALYF announced fund raise of $1.5 million in seed round led by 9Unicorns and Venture Catalysts. The start-up will use the funds for business expansion, brand marketing and enhancing technology to democratise the space.
Founded in June 2022 by Saurabh Vohara, the Ex-Business Head of NoBroker, along with Karan Chandiok, Co-Founder & COO. It is India's first technology-enabled marketplace that makes holiday home ownership accessible, enjoyable, and hassle-free.
ALYF addresses the problem of investing in holiday homes through a unique Smart Ownership model, where a property can be owned individually or by a maximum of 8 Smart-Owners (12 per cent each). Each Smart Owner gets 44 days for self use and they have the option to rent out the unused days in case not able to consume the same. The brand ensures the properties are curated through various parameters, including the best-negotiated price, extensive legal & due diligence, best-in-class architecture and bespoke interiors. One can also opt for Zero maintenance offer of ALYF.
"The pandemic was an eye-opener for all of us. Confined to our city homes with little space to thrive, most of us wished we had a holiday home. Some need a quiet place to work, and some need enough space for their children to run and family members to coexist while creating memories. Our research shows that 78% of individuals earning upwards of INR 30 Lacs annually aspire to own a holiday home. As per our estimates, the current market size in India is $3 billion and has the potential to grow to $15 Billion in the next three years, if the hassles around ownership and management can be addressed smartly”, said Saurabh Vohara, Founder and CEO of ALYF.
Holiday home ownership has conventionally attracted HNIs and has been a far-fetched dream for most people. Due to the high-ticket size of the holiday homes, the aspirational middle class has traditionally not found it lucrative for self-consumption or from an investment point of view.
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