What is the minimum investment amount on the Here platform?

According to slide 5, Here allows for fractional ownership where users can purchase shares for as little as $1 per share. However, publisher-reported facts suggest the entry point for users to start investing in a property is generally around $100.

How does Here differentiate itself from traditional REITs?

Slide 3 provides a chart showing that vacation rentals significantly outperform REITs in average annualized returns. Slide 5 further notes that Here offers 'Economic Rights' including direct rental income, tax benefits, and property appreciation, which are often more abstracted in traditional REIT structures.

Who is responsible for managing the vacation properties?

Slide 4 explicitly states 'You invest, we handle the rest.' The company manages property maintenance, cleaning, demand optimization, and guest relations, making the investment 'fully passive' for the member.

What legal structure does Here use for its property investments?

Slide 5 indicates that 'Each property is held in its own LLC.' This structure is designed to isolate liability to the specific asset and provide clear economic rights to the fractional owners of that specific property.

What was the reported traction at the time of the Seed round?

Slide 6 reports three key metrics: a waitlist of over 25,000 members, an average investment of $584, and a Gross Investment Volume of $389,000 as of May 24, 2022.

Here Pitch Deck: All 16 Slides + Teardown

See all 16 slides of the Here pitch deck — a 2022 Seed deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Here, a real estate fintech platform, successfully raised $5M in Seed funding in 2022 by pitching a fractional ownership model for short-term vacation rentals. The deck focuses heavily on the yield disparity between vacation rentals and traditional residential real estate, claiming a 129% higher average return for the former. By handling the operational 'hassle'—including property management and guest relations—Here positions itself as a fully passive investment vehicle. The deck is notable for its clean aesthetic and strong team pedigree, featuring alumni from Divvy Homes, Evolve, and AngelL…

Key takeaways

The deck claims vacation rental returns are nearly 129% higher on average than any other real estate class (Slide 3).
The platform allows users to purchase shares in properties for as little as $1 per share (Slide 5).
Here handles four core operational pillars: Property Management, Demand Optimization, Cleaning & Maintenance, and Guest Relations (Slide 4).
Early traction is demonstrated by a waitlist of over 25,000 members (Slide 6).
As of May 24, 2022, the company reported a Gross Investment Volume of $389,000 (Slide 6).
The average investment per user on the platform is stated as $584 (Slide 6).
The market opportunity is valued at $1.8 trillion, citing Airbnb's 2020 S-1 filing (Slide 7).
The founding team includes a 2x Proptech founder and a Head of Acquisition who previously acquired 600+ homes for Divvy Homes (Slide 8).

The Here Pitch Deck: Democratizing the Short-Term Rental Asset Class

In 2022, Here raised $5 million in a Seed round to expand its platform that allows everyday investors to buy into the vacation rental market. The deck is a masterclass in visual simplicity and focused messaging. It targets a specific pain point: the high barrier to entry and operational complexity of owning short-term rentals (STRs), while highlighting the superior yields these assets offer compared to traditional long-term residential real estate.

Slide 1-2: The Hook and Visual Identity

The opening slides establish the brand identity. The tagline 'Vacation rental investing unlocked' is clear and value-oriented. Slide 1 features a mobile mockup showing an 'Offerings' page with a property named 'Sunburst' on the Florida Gulf Coast. This immediately communicates that the product is a digital marketplace. The price per share is listed at $1.00, reinforcing the 'unlocked' or democratized nature of the investment.

Slide 3: The 'Why Now'—Yield Disparity

Slide 3 is perhaps the most critical slide in the deck. Titled 'Why Vacation Rentals?', it features a line graph comparing the Average Annualized Return % of Residential Real Estate, REITs, and Vacation Rentals from 2016 to 2020. The blue line representing Vacation Rentals ends significantly higher than the others. The slide claims that returns on vacation rentals are nearly 129% more on average than any other class of real estate investment. By citing that this calculation is based on combined US median cap rates and net appreciation, the founders provide a data-driven justification for why an investor should care about this specific niche.

Slide 4: The Solution—Removing the Friction

Real estate investing is notoriously 'un-passive.' Slide 4 addresses this by stating, 'You invest, we handle the rest.' It breaks down the operational burden into four quadrants: Property Management, Demand Optimization, Cleaning & Maintenance, and Guest Relations. For an investor, this slide represents the removal of the 'hassle' mentioned in the sub-headline. It positions Here not just as a financial platform, but as a full-stack hospitality operator.

Slide 5: The Value Proposition and Risk Mitigation

Slide 5, 'Why we win,' uses a six-grid layout to detail the benefits to the user. It reiterates the 'Fully Passive' nature and 'Fractional Ownership' (shares for as little as $1). Crucially, it mentions 'Economic Rights' (tax benefits and appreciation) and 'Liability.' The note that 'Each property is held in its own LLC' is a vital piece of information for sophisticated investors who want to know how the assets are ring-fenced. The 'Alignment' point—stating they partner with members on every property—suggests the company has skin in the game, which is a common requirement for real estate syndications.

Slide 6: Traction and Social Proof

Slide 6 shifts from theory to reality. It displays three large figures: 25k+ members on the waitlist, a $584 average investment, and $389k in Gross Investment Volume (GIV) as of May 24, 2022. While $389k GIV is relatively small for a $5M round, the 25k+ waitlist demonstrates significant top-of-funnel interest and market fit. The average investment of $584 is a healthy number for a 'democratized' platform, suggesting users are willing to commit more than the bare minimum.

Slide 7: Market Size

Slide 7 cites the Airbnb S-1 to value the market at $1.8 trillion. While 'Total Addressable Market' slides are often dismissed as 'up and to the right' fluff, linking the opportunity to a successful incumbent like Airbnb helps investors contextualize the scale. The imagery of a plane flying over palm trees reinforces the 'vacation' theme of the asset class.

Slide 8: The Founding Team

The final slide in the provided sequence showcases a high-pedigree team. Corey Ashton Walters (CEO) is noted as a 2x Proptech founder who scaled to 900+ cities. Caleb Olthoff (Head of Product) brings 10+ years of experience from Evolve.com, a major player in the STR space. Eugene Davidzon (Head of Acquisition) previously acquired 600+ homes for Divvy Homes, a well-known proptech unicorn. Tucker McKay (Investor Relations) comes from AngelList. This team composition covers all the necessary bases: proptech scaling, STR operations, high-volume real estate acquisition, and fintech fundraising.

What Works in the Here Pitch Deck

1. Data-Driven Urgency: By leading with the 129% yield advantage, Here makes a compelling case for the asset class itself before even discussing their specific product. They aren't just selling a platform; they are selling access to superior returns.

2. Operational Clarity: Many fractional platforms gloss over who actually cleans the toilets and manages the guests. Slide 4 explicitly lists these tasks, which builds trust that the founders understand the operational intensity of short-term rentals.

3. Team-Market Fit: The team slide is exceptionally strong. Having a Head of Acquisition from Divvy Homes and a Head of Product from Evolve directly addresses the two biggest risks: finding the right properties and managing the technology for short-term stays.

What is Missing from the Here Pitch Deck

1. The 'Ask' and Use of Funds: The provided slides do not include a specific 'Ask' slide detailing how much they are raising or how the $5M will be allocated (e.g., hiring, marketing, property down payments). While we know the outcome from publisher reports, its absence in the deck is a notable omission for a fundraising teardown.

2. Unit Economics: While the deck mentions 'High-Yield' for the investors, it does not explain how Here makes money. Is there an acquisition fee? A monthly management fee? A spread on the appreciation? Investors need to see the company's path to profitability, not just the users' returns.

3. Competitive Landscape: The deck does not mention competitors like Pacaso (which focuses on second homes rather than pure investments) or Arrived Homes. A slide showing why Here's model is superior to other fractional real estate platforms would have strengthened the 'Why we win' argument.

Founder Takeaways: How to Copy the Here Approach

Focus on the 'Yield Gap': If you are building in fintech or proptech, find a chart that shows your asset class outperforming the status quo. Here's Slide 3 is the 'North Star' of the entire pitch. · Use 'Pedigree Logos': The team slide (Slide 8) uses the logos of the founders' previous companies (Divvy, Evolve, AngelList). This is a powerful visual shorthand that transfers the credibility of established companies to the new startup. · Simplify the Legal: Fractional ownership can be legally confusing. Here uses a single bullet point—'Each property is held in its own LLC'—to answer a complex structural question. Don't over-explain the legalities; just state the structure clearly. · Waitlist as Traction: If your transaction volume is still low, lead with your waitlist. 25,000 people wanting a product is a strong signal of demand, even if you haven't processed all their capital yet.

Frequently asked questions

What is the minimum investment amount on the Here platform?: According to slide 5, Here allows for fractional ownership where users can purchase shares for as little as $1 per share. However, publisher-reported facts suggest the entry point for users to start investing in a property is generally around $100.
How does Here differentiate itself from traditional REITs?: Slide 3 provides a chart showing that vacation rentals significantly outperform REITs in average annualized returns. Slide 5 further notes that Here offers 'Economic Rights' including direct rental income, tax benefits, and property appreciation, which are often more abstracted in traditional REIT structures.
Who is responsible for managing the vacation properties?: Slide 4 explicitly states 'You invest, we handle the rest.' The company manages property maintenance, cleaning, demand optimization, and guest relations, making the investment 'fully passive' for the member.
What legal structure does Here use for its property investments?: Slide 5 indicates that 'Each property is held in its own LLC.' This structure is designed to isolate liability to the specific asset and provide clear economic rights to the fractional owners of that specific property.
What was the reported traction at the time of the Seed round?: Slide 6 reports three key metrics: a waitlist of over 25,000 members, an average investment of $584, and a Gross Investment Volume of $389,000 as of May 24, 2022.

Cover slide of the Here pitch deck — Seed 2022 — Here pitch deck, slide 1 (2022)

Here pitch deck: the facts

Company: Here
Year: 2022
Stage: Seed
Slides: 16
Sector: Real estate / Fintech
Deck type: Investor Pitch Deck
Outcome: $5M Raised
Headquarters: North America

Here pitch deck PDF

The full Here deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Here pitch deck was used for

This is Here’s 2022 seed pitch deck, used to raise a $5M seed round for its fractional vacation‑rental investment marketplace.[2][3] At the time of the deck, Here enabled retail investors to buy fractional ownership in short‑term rental properties with minimums around $100, targeting everyday investors who wanted exposure to vacation rentals as an asset class.[2][3][8][10] The seed raise followed a $2M pre‑seed announced in February 2022 and was positioned to fund expansion into additional vacation‑rental markets and to scale property supply and product development.[3][5][7][10] The deck was later featured publicly in Business Insider’s pitch‑deck library in connection with the company’s seed announcement.[2][11][13]

Business model: Fractional real estate investing platform specializing in short‑term vacation rentals, allowing individuals to purchase shares in vacation rental properties starting from a minimum investment of about $100.[2][3][5][8][10]

Round: Seed.[2][3][5][7][10]
Raised: $5M seed round.[2][3][5][7][10]
Lead investor: Fiat Ventures.[2][3][7][10]
Investors: Fiat Ventures (lead)., Liquid 2 Ventures (Joe Montana’s fund)., Mucker Capital., Basecamp Ventures., Cooley., Pre‑seed and earlier backers also included Bragiel Brothers, Alumni Ventures, Gaingels, and various fintech executives,
Headquarters: Miami, Florida, United States.[3][4]

Year: 2022.[2][3][5][7][10]

Industry: Real estate investing / proptech / fintech, focused on fractional ownership of vacation rental properties.[2][3][5][8][10]

Total funding: At least $7M in known venture funding by mid‑2022, consisting of a $2M pre‑seed round announced February 2022 and a $5M seed round announced July 2022.[3][5][8][9]

Use of funds as presented: Expansion into additional vacation‑rental destinations (around 20 new markets), scaling the supply of property offerings on the platform, driving user growth, and further product and platform development.[3][5][7][10]

What happened after the Here deck

After publicly launching in early 2022 with $2M in pre‑seed funding and then raising a $5M seed round in July 2022 to expand its fractional vacation‑rental investment marketplace, Here operated for roughly one to two years before announcing that it was shutting down the platform in early 2024 due to the interest‑rate environment and broader economic conditions.[3][4][5][7][9][12]

Public launch of the Here vacation‑rental investment marketplace with $2M in pre‑seed funding in February 2022.[5]
Announcement of a $5M seed round in July 2022 led by Fiat Ventures, bringing known funding to at least $7M.[2][3][5][7][
Rapid funding of multiple vacation‑rental property offerings on the platform following launch, according to later covera
Public disclosure in early 2024 that the Here platform was being shut down due to the prevailing interest‑rate environme

What the Here deck got right

Simple, compelling consumer value proposition. Here targeted a clear and easily communicable value proposition — fractional ownership of vacation rentals with minimum investments around $100 — which is straightforward to explain in a pitch deck and resonates with both consumers and investors.[2][3][5][8][10]
Strong investor syndicate and funding momentum. By the time of the seed deck, Here had already announced a $2M pre‑seed round and then secured a $5M seed led by Fiat Ventures, with participation from well‑known firms like Liquid 2 Ventures, Mucker Capital, Basecamp Ventures and others, demonstrating strong investor validation that the deck could credibly highlight.[2][3][5][7][9][10]
Focused positioning in a perceived high‑yield niche. The company operated at the intersection of hospitality, real estate, and fintech, and focused specifically on short‑term vacation rentals, a niche often cited as a high‑yield asset class, enabling the deck to lean on sector‑specific performance data and narrative.[2][3][5][8][10]
Low minimums and built‑in ownership caps to support diversification. Here’s model of offering fractional access at low minimums, with an ownership cap per investor (around 19.9%), provided a built‑in diversification and democratization story likely emphasized in the deck as both an inclusion and risk‑mitigation feature.[2][3]
Clear use‑of‑funds story around market and supply expansion. Public descriptions of the fundraise emphasize scaling into approximately 20 new destinations and rapidly ramping supply on the platform, suggesting the deck told a concrete expansion story rather than a vague growth narrative.[3][5][7][10]
Early marketplace traction and proof of demand. Coverage mentions that Here had already closed multiple offerings quickly after launch, including offerings that sold out fast, giving the team real traction claims to include in the deck.[8][9]

What could have been stronger

Limited emphasis on macro and interest‑rate risk in a rate‑sensitive model. Later reporting indicates that Here’s platform was shut down in early 2024 due to the interest‑rate environment and economic conditions, but this risk around rising rates and macro sensitivity is not prominently highlighted in the 2022 seed‑stage narrative as described in contemporaneous coverage, creating a potential gap in how macro risk was framed to investors.[2][3][4][9][12]
Insufficiently detailed downside and liquidity planning in the public narrative. The available descriptions of the Here pitch deck and seed narrative heavily emphasize minimum investment size, democratization and sector yield, but do not surface detailed metrics on default scenarios, liquidity paths for investors, or contingency plans if property yields decline, which can leave sophisticated investors with unanswered questions about downside management.[2][3][8][10]
Limited publicly described detail on unit economics and margins. Press coverage of the deck focuses on the vision, the low entry minimum and the caliber of investors, but offers little about Here’s unit economics (fee structure across acquisition, management, and exit) or contribution margins, which can weaken the perceived robustness of the financial section for an asset‑heavy marketplace.[2][3][5][8][10]
Unclear depth of prior operating experience specifically in fractional vacation‑rental platforms. External articles reference a strong founding pedigree and investor backing but do not specify extensive prior experience running large‑scale vacation‑rental portfolios or broker‑dealer style fractional platforms, potentially leaving a perceived gap in highly specialized operational track record at scale.[2][3][5][8][10]

How an investor would read this deck

What draws attention

Ability to source, underwrite, and manage a scalable pipeline of high‑yield vacation‑rental properties across multiple destinations, especially as the seed funds were earmarked for expansion into roughly 20 new markets.[3][5][7][10]
Regulatory and compliance approach for offering fractional interests in properties to retail investors, including securities‑law compliance and property‑level legal structuring.[2][3][5][8][10]
Sensitivity of cash flows and property valuations to macro conditions such as interest‑rate increases and downturns in travel demand, given that the company later cited the rate environment when shutting down.[3][4][9][12]
Customer acquisition costs and payback periods for retail investors on the platform, as well as repeat‑investment behavior once users fund their first property.[2][3][8]
The robustness of Here’s technology platform and operations to support scaling property offerings while maintaining transparent reporting and distributions to many small investors.[2][3][5][8][10]

Risks that stand out

Exposure to rising interest rates and changing macroeconomic conditions, which can affect both financing costs and demand for vacation rentals; this risk materialized later when the company cited the rate environment as a reason for shutting down its platform.[3][4][9][12]
Regulatory and compliance risk from offering fractionalized real‑estate investments to retail investors, including evolving securities regulations and short‑term rental rules.[2][3][5][8][10]
Concentration risk in a niche asset class (short‑term vacation rentals) that can be sensitive to changes in travel patterns, local regulations, and platform‑level demand.[2][3][5][8][10]
Operational complexity and cost of sourcing, renovating, and managing multiple geographically dispersed vacation rentals while maintaining consistent returns and investor reporting standards.[2][3][5][8][10]
Competitive risk from other fractional real‑estate investing platforms and real‑estate crowdfunding products targeting similar retail investors.[5][8][10]

Questions this deck invites

How are the property‑level entities and fractional securities structured, and what specific regulatory exemptions or registrations does Here rely on to offer these investments to retail investors?[2][3][5][8][10]
What are the historical and projected net yields for the properties on the platform after all fees, and how do these compare to other real‑estate crowdfunding or REIT alternatives?[2][3][5][8][10]
What are the detailed unit economics of a typical offering, including acquisition costs, renovation budgets, property‑management fees, platform fees, and expected hold period and exit scenarios?[2][3][5][8][10]
How did Here’s team build and validate its acquisition, underwriting, and property‑management playbook for short‑term rentals, and what prior experience do they have operating such portfolios?[2][3][5][8][10]
What risk‑management strategies (hedging, leverage limits, diversification rules) are in place to mitigate the impact of interest‑rate increases, tourism downturns, or regulatory changes on short‑term rentals?[3][4][9][12]

What founders can take from the Here deck

A clear, retail‑friendly value proposition — such as enabling everyday investors to buy into vacation rentals for as little as around $100 — can attract both media attention and venture funding when paired with a compelling asset‑class narrative.[2][3][5][8][10]
Sequencing a $2M pre‑seed public launch followed quickly by a $5M seed allowed Here to show momentum, close early offerings on the platform, and then use that traction and narrative to support a larger seed raise.[3][5][7][9]
Positioning within a specific, high‑yield niche (short‑term vacation rentals) and framing it as a historically strong asset class can help a deck stand out in a crowded real‑estate and fintech landscape.[2][3][5][8][10]
Highlighting strong, brand‑name investors across rounds (Fiat Ventures, Liquid 2 Ventures, Mucker Capital, Basecamp Ventures, and others) can reinforce credibility in a consumer‑facing financial product.[2][3][5][7][10]
Even with strong storytelling and investor backing, business models that are highly sensitive to interest rates and macro conditions need to address those risks explicitly and incorporate downside planning, as later events around Here’s shutdown illustrate.[3][4][9][12]
For fractional‑ownership platforms targeting retail investors, transparency around fee structure, risk, and governance is critical for long‑term trust, beyond the initial excitement around low investment minimums and access.[2][3][5][8][10]

Here pitch deck: common questions

What does Here do?

Here is a proptech and fintech startup that operates a fractional real estate investing platform focused on short‑term vacation rentals, allowing individuals to buy shares in vacation rental properties with relatively low minimum investments.[2][3][5][8][10]

How much did Here raise in the seed round this pitch deck was used for, and who invested?

According to Business Insider and the company’s July 2022 press and founder announcements, Here raised a $5M seed round in 2022 led by Fiat Ventures, with participation from Joe Montana’s Liquid 2 Ventures, Mucker Capital, Basecamp Ventures, and Cooley, bringing its total known venture funding to at least $7M.[2][3][5][7][9][10]

How does Here’s fractional vacation‑rental investing model work for users?

At the time of the 2022 seed deck, Here’s platform let investors purchase fractional interests in vacation rental properties with a minimum investment of about $100 (priced at roughly $1 per share) and capped any single investor’s ownership of a given offering at 19.9% to avoid concentration.[2][3][8][10]

What happened to Here after this 2022 seed fundraise?

Public information indicates that Here publicly launched with $2M in pre‑seed funding in February 2022 and announced its $5M seed round in July 2022, but later, in early 2024, the company disclosed it was shutting down the investment platform, citing the interest‑rate environment and economic conditions.[3][4][5][9][12]

Where can I see the pitch deck that Here used to raise its $5M seed round?

Business Insider published an article in July 2022 that includes Here’s seed‑stage pitch deck and explains how the company used it to raise its $5M seed round; that library entry is the primary public source of the deck.[2][11][13]