Funds Aggregated for Luxury Residential Co-Ownership Extension via Pacaso, Totaling $35 Million
Pacaso, a tech-enabled marketplace for co-owned luxury vacation homes, has secured $35 million in funding through a Regulation A+ offering from over 10,000 investors. This significant investment will fuel the company's expansion plans, making the opportunity to own and invest in luxury real estate more accessible to a greater number of people.
Founded in 2020 by Austin Allison and Spencer Rascoff, Pacaso allows buyers to co-own luxury vacation homes in desirable locations, offering shares from one-eighth to one-half. The company has facilitated over $1 billion in transactions and generated more than $110 million in gross profit to date.
Pacaso operates in over 40 destinations across the U.S., Mexico, and Europe. To broaden its global footprint, the company is planning expansions into key international markets like the Caribbean and Italy, alongside maintaining a strong U.S. presence in top destinations. Recently, Pacaso launched new co-ownership listings across the Caribbean—including Anguilla, Bahamas, British Virgin Islands, Cayman Islands, and St. Barts—catering to demand for turnkey, professionally managed luxury homes in attractive climates and tax-friendly regions.
In the United States, Pacaso has added new properties in sought-after locations, such as the recent introduction of a luxury co-ownership home named Snow King in Jackson Hole, Wyoming, a prime mountain resort area featuring high-end amenities and access to outdoor recreation.
Operationally, Pacaso is focusing on capital-efficient growth by strategically reducing total home holdings by over 30% in 2024 to improve margins while scaling. This move has resulted in a 24% improvement in Pacaso's adjusted EBITDA loss due to reduced inventory and a tighter cost structure.
The recent funding round will also support Pacaso's aim to innovate in the $1.3 trillion vacation home market. By making luxury homeownership more accessible and globally diversified through its tech-enabled co-ownership model, Pacaso is poised to lead the way in this growing sector.
The current offering from Pacaso provides both accredited and everyday investors with the opportunity to purchase shares. Last year, Pacaso reported $164.5 million in gross transactions and fees (excluding whole-home sales), and a $23.6 million increase in adjusted gross profit, a 18% year-over-year increase.
Pacaso's success is built on its commitment to professional management and support services, ensuring that co-owners enjoy a seamless and enjoyable experience when using their luxury vacation homes. With this latest funding round, Pacaso is well-positioned to continue its growth and expansion, making the dream of luxury homeownership a reality for more people around the world.
- Pacaso, a technology-driven platform, has secured $35 million in funding, demonstrating strong investor confidence in its business model within the finance sector, specifically the luxury real estate market.
- The company's plans for global expansion include entering key markets like the Caribbean and Italy, leveraging technology to make co-owned luxury vacation homes more accessible to a broader consumer base, thus disrupting the $1.3 trillion vacation home market.
