The digital platform and activities of co-living facilitators Cocoonut will receive a turbo boost this year after real estate firm INOWAI took a majority stake.
Founded in 2020 to tackle the shortage of affordable housing in Luxembourg, Cocoonut has some 50 furnished house share and private home units under management in Luxembourg and a further 700 in the pipeline for the greater region, according to its press release.
INOWAI, which has been operational in Luxembourg for some 22 years, was among the first financial partners of Cocoonut. It did not disclose the amount paid or percentage of shares. However, it told Silicon that the co-founders of Cocoonut, while remaining in the management of their company, are now taking part in the teams and services of INOWAI.
By combining offers and offering a turnkey solution for investors, the two players aim to become a leading residential operator in the build-to-rent market: i.e., the development of housing for rental, for varying lengths of time, and incorporating numerous services, based on technology, design and services.
Before the end of the year, Cocoonut will add three new locations to its portfolio, namely Belval, Hollerich and Belair in Luxembourg. Meanwhile, the collaboration of the two companies will result in new services and a brand new communication and distribution platform to be launched before the end of the year.
Cocoonut co-founder Nicolas Legay said: “Thanks to our integrated management, we can offer up to 25% more profitability to our owners and 100% peace of mind.”
INOWAI partner and managing director Jean-Nicolas Montrieux added: “It is important to expand INOWAI’s offering in order to provide tenants with an experience that meets their expectations while at the same time offering a competitive investment product.”
