Vacation Home Ownership Disruptor, Kocomo, Has Raised $56 Million
The sharing economy has upended various industries, including car rides, private jet travel, and home rentals. Kocomo is the long-awaited extension into vacation home ownership.
MEXICO CITY - Kocomo, a pre-seed stage proptech startup backed by leading U.S., European, and Latin American investors, has raised US$56M in debt and equity to tackle cross-border, co-ownership of luxury vacation properties. Kocomo's mission is to make the dream of vacation home ownership an attainable reality for more people around the world.
"In the same way that Netjets uses shared ownership to create a more cost-effective solution for people to enjoy the benefits of private air travel, we apply a co-ownership model to create a smarter way for people to own and enjoy luxury vacation homes worldwide," explained Martin Schrimpff, co-founder and CEO of Kocomo.
This funding round was led by AllVP and Vine Ventures — with participation from Picus Capital, Fontes - QED, FJ Labs, Clocktower Technology Ventures, and JAWS (the family office of Starwood Capital Group Chairman Barry Sternlicht), while the debt investment was financed by Architect Capital.
Investments from the founders of four of Latin America's most prominent unicorns — including Mate and Florian of Loft, Oskar Hjertonsson of Cornershop, Carlos Garcia of Kavak, and Sergio Furio of Creditas — also make up the round.
Kocomo seeks to upend conventional vacation home ownership by enabling people to own a luxury vacation property abroad through its best-in-class co-ownership and property management model — starting with Mexico. "With Kocomo, we have created a new unit of real estate ownership that is better suited to actual use patterns for vacation properties — and our end-to-end platform makes co-ownership completely hassle-free," added co-founder and CFO, Tom Baldwin.
Leveraging the power of technology, Kocomo aims to create a transparent marketplace that empowers people to purchase, own, and sell co-ownership interests in luxury homes through its vertically-integrated platform. In addition to benefiting from potential home appreciation and rental income, co-owners also experience stress-free vacations themselves as Kocomo manages both the luxury property and the other vetted co-owners.
Kocomo is led by a multinational team of seasoned entrepreneurs who are driven by their shared passion for international travel, technology, business, design, and real estate innovation. "We came together as a team because we believe vacation memories fuel life," says co-founder and CPO, Graciela Arango. "Often our fondest memories are created during vacation — and we're passionate about providing more accessible opportunities for people to own a vacation home that'll serve as the backdrop to unforgettable moments like family game nights, learning how to ride a bike, or holiday celebrations."
About Kocomo
Kocomo is an early-stage proptech startup, backed by leading U.S., European, and Latin American investors. Leveraging the power of technology, Kocomo aims to create a transparent marketplace that empowers people to purchase, own, and sell co-ownership interests in luxury homes through its vertically-integrated platform, starting in Mexico. Kocomo's mission is to make the dream of vacation home ownership an attainable reality for more people around the world.
