Interest in fractional home ownership platforms continues to
The latest startup to get funding is Fractal Homes, a United
Kingdom-based company offering properties across capital cities in Europe. The
company has raised $30 million in seed funding, with the equity portion led by
White Star Capital, with additional debt investment from a London-based private
In the last 18 months, funding has gone to several similar
fractional ownership companies, including Pacaso,
and, most recently, Seqoon
Similar to the others, Fractal offers its owners what it
calls “hotel-style management and maintenance.”
Subscribe to our newsletter below
Owners use the Fractal app to schedule their stays and book services
such as chauffeurs and child care.
"Fractal fully manages the property and takes care of
cleaning, maintenance and all operational aspects that come with the running of
a home to give our buyers a hotel-like experience," says Labib Kaddoura,
co-founder of Fractal.
Fractal currently has four luxury apartments in London
available for purchase in one-eighth increments. The company says next year it
will expand into Paris and Madrid and later to ski and beach destinations.
The company says it is focused on buyers from countries in the
Gulf Cooperation Council - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the
United Arab Emirates.
“Being from, and having lived in, the Middle East, we know
first-hand how beneficial a second home is for individuals and families who
spend a lot of time traveling between two countries for business, schooling,
and leisure. The attractiveness of European capitals for GCC buyers, coupled
with a good market entry point seeing the recent appreciation in USD, make it a
very opportune time for buyers to consider the fractional ownership model,” says
Wadih Abou Bechara, co-founder of Fractal.
And says Eric Martineau-Fortin, CEO and managing partner at
White Star Capital, “We were immediately impressed by the caliber of the
Fractal team, who has identified a key pain point in home ownership that can be
solved through the combination of technology and an innovative approach. We're
very excited to be with them on this journey to disrupt the property
co-ownership model through their scalable solution. Furthermore, the Fractal
team's ambition is strongly aligned with our views of growing connectivities
between the GCC region and Europe.”