Madrid-based proptech company Vivla has raised €8 million (US$8.7 million) in funding to expand its co-ownership model for second homes.

The funding round was led by Samaipata, with contributions from Bonsai Partners, FJ Labs, Extension Fund, Andbank, Kronos, Stoneweg, and Concrete VC.

The investment will also improve operations through investments in talent and AI.

This investment increases Vivla’s total funding to over €35 million (US$41.2 million), combining both equity and debt.

The new funding will facilitate expansion into regions including Madrid, Mallorca, Costa del Sol, and Portugal.

Additionally, Vivla aims to broaden its client in Europe and Latin America.

Founded in 2021, Vivla allows families to purchase fractional ownership in European second homes, starting at one-eighth of the property’s value.

VIVLA has reported profitability for over a year, managing €80 million (US$94.17 million) in assets and a portfolio of 60 properties in locations such as Ibiza, Menorca, and Cádiz.

The company intends to scale operations and leverage AI to improve user experience and operational efficiency.