Kocomo, a Mexican proptech, raised $50M in debt financing and $6M in equity to help people buy their dream holiday home.
ALLVP and Vine Ventures co-led the equity funding, with participation from Picus Capital and the members of the Fontes fund. Architect Capital invested the debt financing.
Kocomo wants to disrupt the conventional homeownership market and make it “an attainable reality for more people around the world”. The platform allows people to purchase, own, and sell fractional interests in luxury homes, thereby co-owning them to split costs and provide greater accessibility to the market.
“Our platform enables multiple people to own and enjoy a luxury vacation home and split all the costs amongst them without the fuss and hassle normally involved,” said Tom Baldwin, co-founder and CFO at Kocomo.
The platform manages the legal and financial logistics of homeownership and acquisition, such as managing utilities, landscaping, and preventative maintenance.
Kocomo will use the new funding to acquire around 20 new homes for the platform in key destinations in Mexico: Los Cabos, Punta Mita, and Tulum. The startup also plans to expand to other popular vacation destinations in Costa Rica and the Caribbean.
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