Chilean Proptech Raises $3.4 Million

Legria operates in Chile and Miami allowing interested parties and investors to access luxury homes or apartments, remodelled and equipped

Legria, the Chilean proptech in the second home market, closed a capital raising of $3.4 million through the fund manager Ameris Capital through private debt. The objective is to finance the acquisition of new key properties for its growth plan in Chile and expand its property portfolio with planned purchases in Marbella, Zapallar, Cachagua, Maitencillo, Las Tacas, Villarrica, Pucón and Lago Ranco.

“We want to bring this unique experience to a broader audience and continue expanding to the most desired destinations in the country and America. In practice, our co-owners are enjoying luxury vacation homes for the same amount of time as they would as a sole owner, choosing their dates in advance and flexibility to change through the app, only they do it for a fraction of the expenses and without having to worry about nothing,” said Ignacio del Río, CEO of Legria.

According to the start-up, the speed of sale of fractional second homes has proven to be six times greater than the traditional system. Resale of fractions with capital gains (9% annualised) have even been observed, which, they say, provides security to co-owners who can choose to sell their participation in a simple way and when they decide, similar to a complete property. “The investment in private debt reflects our confidence in Legria's ability to transform the proptech market in Chile and democratise access to second homes,” Ameris indicated.

Currently, Legria operates in Chile and the US (Miami), allowing interested parties and investors to access luxury homes or apartments, remodelled and equipped. The model consists of buyers acquiring a fraction of the property, represented as a share in a company, which in turn is the owner of the property.