Vacation home fractional ownership platform Alyf has raised $1.5 million (Rs 11.25 crore) in a seed round led by 9Unicorns and Venture Catalysts.
Saurabh Garg, Amit Aggarwal, Akhil Gupta of NoBroker.com, Kunal Shah of Cred, Dr. Arjun Vaidya of Vaidya, MD Innov8. The founders of the startup are Ritesh Malik, Praveen Aggarwal of Better Place, Mitesh Shah of Credence Family Office and Industry. Zaki Marwaha, Vivek Chandy, Pradeep Lala, Viren Mishita, Apoorva Salarpuria and others participated in this round. The startup was founded in June 2022 by Saurabh Vohara, ex-business head of NoBroker, along with Karan Chandek. The platform aims to enable the savvy middle class to invest in holiday homes. The concept is similar to home equity startups like Pacasso in the US and Kokomo in Mexico.
Alif said it plans to use the funds to expand its business, brand marketing and technology development. We want to give everyone the opportunity to have their own holiday homes. “Through our innovative business model, we sought to solve the challenges of owning a vacation home,” said Saurabh Vohara, Founder and CEO of Alyf. “Including the ticket price, you can now legally own a holiday home for R25 million in major resorts,” he added.
Alyf currently has more than 10 properties in Lonavala, Goa and Alibaug. A sales target of R100 million has been set for the next 12 months.