Prello successfully secured a €1.75 million Pre-Seed investment to enhance access to second home ownership through a tech-driven co-ownership model.

Information on the Target

Prello is a pioneering startup that aims to transform the accessibility of second home ownership through a shared ownership model powered by technology. The company seeks to address an observable gap in the European second home market, particularly amid growing demand post-COVID-19. This emerging demand is fueled by changing remote work patterns and the increasing allure of medium-sized towns and rural areas. In 2020, approximately 25% of the French population expressed interest in acquiring a secondary residence; however, steep property prices have made ownership increasingly difficult for young professionals and middle to high-income earners.

Prello intelligently facilitates co-ownership by assembling up to eight co-owners for a given property, creating the necessary legal framework, and managing the property throughout its lifecycle, which includes renovation, maintenance, and timeshare distribution. This innovative approach enables individuals to access high-quality properties with reduced financial strain, allowing a co-owner to utilize a €1,000,000 property for an investment as little as €150,000.

Industry Overview in France

The second home market in France, particularly as influenced by recent global shifts, has encountered significant changes. As remote working becomes more commonplace, there is increasin