A Luxembourg start-up, dedicated to the management of co-living, has raised 110,000 euros of funds. Enough to give it the necessary impetus to start in a market which is still relatively undeveloped in the Grand Duchy.
In most major cities, co-living is already booming. The principle is simple: everyone has their own room, but everything else is shared (living room, library, wet rooms, kitchen, wifi, gym, Netflix subscriptions, garden or terrace…). Some places even offer more “comfort” options: access to a concierge, a cleaning service, a nursery, a secure car park… Most co-living sites also provide the possibility of sharing workspaces, combining living and working on one and the same site.
Especially millennials have adopted this way of life. However, it is not uncommon to meet other generations, either by choice of lifestyle or because they are in transition between two projects. The Luxembourg start-up Cocoonut offers an all-inclusive rental model as well as access to a co-living community. They developed an app that allows managing all aspects of shared life, including the social part (contacts, meetings, sport…). This makes the concept broader than traditional house-sharing.
A flexible lifestyle
Aurélien Dobbels and Nicolas Legay created Cocoonut at the beginning of 2020. They have raised their first funds: €110,000, which allows them to access 15 million euros (valuation) in real estate assets pre-approved for their management, or about 3,000m2 to be dedicated to co-living. A dozen investors have decided to give these two entrepreneurs the means to realise heir ambitions.
Both partners come from the world of finance, but both were attracted to real estate. “At the moment, we are the only Luxembourgish operators in the co-living sector, but we know that Belgian or French companies also want to develop this practice in Luxembourg“, Aurélien Dobbels told the Luxembourgish website Paperjam.
In Luxembourg, finding accommodation is not always easy. And more and more people are turning to this type of community experience, both for financial reasons and for conviviality. And, finally, because this solution provides access to services that on their own would not be accessible or conceivable. The Grand Duchy, a country where there are many temporary contracts and temporary stays, seems to be the ideal ground for the development of this trend.