Mexico City-headquartered startup Kocomo is committed to contributing its quote towards enabling and popularizing cross-border co-ownership of luxury vacation properties.
Now, the firm has announced the completion of its most recent funding round. The round closed with $6 million from equity deals and $50 million in debt financing to further its drive towards that noble and profitable course.
Kocomo’s founders are a diverse mix of Colombian, British, Mexican, American and Panamanian. They hope to transform traditional vacation home ownership by offering a platform where clients can buy, own or sell portions of luxury properties.
According to a spokesperson of Kocomo, the firm seeks to make the dream of owning a vacation home “an attainable reality for more people around the world.”
Launched in 2021, the firm has been running in stealth mode since May and has only just launched a beta version of its platform to interact with a defined crop of clients from those currently registered on its waiting list.
“We are focused initially on Americans and Canadians wanting to buy a vacation home in Mexico, the Caribbean and Costa Rica and then eventually we will be doing the same in Europe,” said Martin Schrimpff, co-founder and CEO of Kocomo.
The equity fraction of the funding round was co-led by AllVP and Vine Ventures. Other backers such as Picus Capital, Fontes – QED, FJ Labs and Clocktower Technology Ventures, and JAWS also took part in the round. Architect Capital provided the debt investment.
Also worthy of note, are the founders of Latin American unicorns who took part in the equity part of the deal. They include Mate Pencz and Florian Hagenbuch of Loft, Oskar Hjertonsson of Cornershop, Carlos Garcia of Kavak and Sergio Furio of Creditas.
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