reAlpha Asset Management, an AI-powered real estate technology and investment company, has scored $100m in a capital commitment.
The company claims it has a goal to empower everyone with the ability to invest in the global short-term rental market – which has a valuation of $1.2trn.
reAlpha has signed an agreement with GEM Global Yield, a Luxembourg-based private alternative investment group, for the capital commitment.
Per the terms of the agreement, GGY commits to providing reAlpha with a share subscription facility of up to $100 million for a 36-month term following the public listing of reAlpha’s shares.
reAlpha will remain in control of the timing and, within certain limits, the maximum amount of each individual drawdown under this facility and has no minimum drawdown obligation.
Subject to the public listing occurring, the proceeds from this financing will be used to accelerate reAlpha’s investments in experiential and rent-ready vacation homes and for general corporate purposes.
reAlpha CEO Giri Devanur said, “This agreement with GGY reflects their belief in our business, the strength of the asset class we target, and the enormous opportunity tied to helping democratize the short-term rental economy. This certainty of capital upon our public listing better positions us to advance the company’s strategic priorities on its journey to becoming a global leader in the vacation rental space.”
Younited, which offers instant credit in Europe, has raised €60m in a fresh funding round, bringing its valuation to €1.1bn.
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