Prello raises €1.75M Pre-seed round to democratize access to second homes through co-ownership.

By Mathias Flattin and Dimitri Kremp

Welcome home Prello! We’re very happy to announce our participation in Prello’s €1.75M Pre-Seed round along with business angels, laying the groundwork for Ludovic and Sébastien’s mission to revolutionize access to second homes. 

Prello powers the shared ownership model with tech to address a profound gap in the European market for second homes

In the wake of covid-19, shaken by the spread of remote work and the newfound attractiveness of medium-sized towns and rural territories, the second home market in France and Europe finds itself at a crossroad. On the one hand, new uses and habits fuels the demand of a growing part of the population to access second home ownership (in 2020, an impressive 25% of French population wanted to acquire a secondary residence!)… While on the other hand, with staggering prices, second home ownership is becoming increasingly difficult for young people and medium to high revenues, with high quality properties struggling to find buyers. 

Prello’s aim is to bridge this gap. Inspired by sharing economy model and powered with technology, the young startup provides an end-to-end solution for managed second home co-ownership. For a given property, Prello matches and gathers a maximum of 8 co-owners, creates the legal structure for them to carry out the purchase together, and oversees the management of the property in the long run (renovation works, property maintenance, timeshare distribution, extra services…).

Prello gives co-owners an access to high-standard properties (and valuable assets) at a lower cost, while enabling them to enjoy it fully : with 8 shareholders, a co-owner can spend 44 days in his property per year, which is higher than the average yearly time French people spend in their second home. By digitizing most of the co-purchasing and property management process, Prello also ensures to make shared ownership a seamless experience for each of its customers.  

In the end, customers can experience a house worth €1.000.000€ while having only paid €150.000. In terms of unit economics, Prello’s co-ownership model is not only cheaper than renting on Airbnb, but it also leaves customers with an investment into a valuable asset that they own. 

Prello’s founding team combines strong market knowledge, long-term vision and the ability to execute 

Prello‘s founders share a strong B2C marketing vision and a deep knowledge of the real estate sector and practices, two key factors for the scalability and profitability of the model. 

Coming from a family of property developers, Ludovic, the CEO, has never strayed too far from real estate. Having handled his own real estate operations and having worked as a CPMO for Weekendesk, he brings in his strong vision and drive to optimize Prello’s management of properties for co-owners. 

His operational profile is perfectly balanced by his co-founder and CPO’s. Previously CPMO of Masteos, and having co-founded a proptech startup, Sébastien brings his marketing skills and strong B2C vision to position the Prello brand as a reference in co-purchasing for consumers.

This complementary team is fully equipped to create a new standard for second home co-ownership in Europe. 

Two key milestones to initiate Prello’s journey in France and Europe : finalize product development and activate first operations

Prello has a few exciting months ahead. To better seize the strong market momentum to come, the team will dedicate its efforts both on completion of the customer and ops platform and on the structuration of its first deals in France. The two founders have also started gathering the first key people who will contribute to Prello’s success from day one. 

This pre-seed round comes at the very beginning of Prello’s long and promising journey to become the leading marketplace for the co-purchase of second homes in France and Europe. We are really excited to be part of it, and help Ludovic and Sébastien democratize access to property ownership.

Congrats to the Prello team!  

Visit Prello’s website : https://www.prello.co/

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