After the judges finished deliberating, the prize was awarded to siblings Artur and Helena Grau, the team behind Lando. We spoke with them about their project.
How did the idea for Lando come about?
Two experiences were fundamental to the idea of Lando. Firstly, we realised that a large number of millennials, including many of our friends and family, are aware that they should be investing part of their earnings, but do not do so, mainly due to lack of knowledge. Secondly, we realised how attractive real estate is. While we all understand this asset intrinsically, it is available to only a few. By combining these two problems, Lando emerged as a solution. Invest in real estate for as little as €100.
What sets your project apart?
The creation of a long-term savings vehicle that is very accessible to the public. We want to enable the purchase of small fractions of properties, offer subscription models and wrap the product in an attractive, modern interface, so that we can reach users who are not yet active investors. We want to create an investment product that is easily understandable for consumers, both in its essence and in the acquisition process.
What is the current status of the project and what are the next steps?
Right now, we are concentrating our efforts on two fronts: developing our software and resolving the regulatory issue. With these two pillars in place, we will do a beta launch as a proof of concept, whereby we will offer our first fractionalised and tokenised property.
Where did your entrepreneurial spirit come from? And what about your interest in the real estate sector?
Our father passed away in early 2020 and we needed a source of income, so we decided to rent out the assets we owned. Initially we did it out of necessity, but we quickly realised that we liked the work involved in property management: drawing up contracts, dealing with tenants, coordinating refurbishments and maintenance, etc. But what we liked the most, by far, was forming a team and dealing with problems together.
Having seen, on the one hand, the amount of work involved in managing rental properties and, on the other hand, the need of many millennials to find financial assets that suit their needs – this was the origin of our entrepreneurial spirit and, hence, Lando. With Lando, we will be able to help people make better financial decisions, thereby alleviating the socio-economic polarisation between landlords and tenants that we see in other European countries – which is where Spain is heading. We are already seeing the amount of work and headaches involved in being entrepreneurs, but we are convinced that it is worthwhile.
What has the experience of participating in the Challenge been like?
The Challenge has been a very enriching experience. We had the chance to meet other entrepreneurs in the industry with very interesting ideas and learn from startups in more advanced stages of development. Precisely because of the high quality of the other finalists, we are very pleased and grateful to have been selected as the winners of the Challenge.
What does winning this award mean to you? And what will you do with it?
Winning the Challenge means, first and foremost, that the judges had confidence in our project. We are deeply grateful for this confidence, and for the support of the Esade Alumni team. The most direct and material aspect of this prize – the €5,000 awarded to the winning startup – will be invested directly in our project, probably in legal advice and the development of the app and the website.