MIAMI--(BUSINESS WIRE)--Here, the top fractional investment platform that operates at the nexus of hospitality and real estate, announced today that it has raised a $5M seed round led by Fiat Ventures, with participation from Joe Montana’s Liquid 2 Ventures, Mucker Capital, Basecamp Ventures, Cooley and previous Wealthfront CEO Adam Nash. Here formally opened its platform to the public in February 2022, and has since grown to include three of the leading vacation destinations in the U.S. on its platform: Big Bear, California, Clearwater, Florida, and Gatlinburg, Tennessee in the Great Smoky Mountains.
“I launched Here to democratize access to high-quality real estate investments. We’re bringing the top destination markets with the highest returns to investors of all sizes. The traditional “American dream” of owning a home with a white picket fence is dead. Between a 20% down payment, inflation and high interest rates, purchasing a home is out-of-reach for most young Americans. At the same time, data shows that 75% of all U.S. travel spend will be made by Millennials and Gen Z by 2025. The opportunity has never been hotter,” said Corey Ashton Walters, founder and CEO of Here.
"Vacation rentals are an investment opportunity that historically has only been available to the wealthy. Here has created a seamless and simple way for everyday investors to participate in this market, and supporting their mission to open up this opportunity to everyone was an easy decision" said investor Adam Nash, CEO & co-founder of Daffy and former CEO of Wealthfront
With over 30,000 members, Here is on a mission to unlock the $1.8 trillion short-term rental market for everyday investors. On Here’s first-of-its-kind marketplace, accredited and non-accredited investors alike can obtain partial ownership in curated vacation rentals located in the leading vacation destinations throughout the U.S. without lifting a finger. Here provides the essentials of owning a vacation rental investment without the hassle. In today’s climate, while many individuals are scared to park their money in the market, Here provides a quarterly dividend on the rental income, making it a less risky destination for capital.
“We love the vision of the company, but most important, the hustle, grit and creativity that Corey brings day-in and day-out. We're honored to be a small part of their big vision by leading their Seed round with Fiat Ventures and providing ongoing growth support through our consultancy, Fiat Growth" said Managing Partner Marcos Fernandez.
This summer, Here plans to rapidly advance its product offerings across more than 20 leading vacation destinations in the U.S., furthering the platform’s mission to be the #1 vacation rental investment marketplace.
Here is a financial technology company operating at the nexus of hospitality, real estate and investing. It provides access for non-accredited investors to invest in luxury homes and vacation rentals. People interested in investing in vacation rentals can do so without ever lifting a finger. On Here’s platform, investors can browse properties, purchase shares in SEC securitized properties, and enjoy earning monthly income and potential property appreciation. Here’s properties are located in stable, high appreciation, and high cash-flowing vacation markets delivering a strong, long-term return. By offering shares for as low as $1 and handling all of the property management, Here allows for a lower barrier to entry.