Now raising · Founding Angel round
€80,000 for 3.85% of the company.
SplitUp is closing a small Founding Angel round before the Seed Lead comes in at more than double the price per share. If you want to be early on the platform that turns European real estate into 365 tradable day-tokens per property, this is the moment.
Founding Angel · this round
€80,000
for 3.85% equity
- €2M pre-money valuation · €2.08M post-money
- ~56% per-share discount · versus the Seed Lead at €4.5M pre
- Observer board seat · pro-rata rights in the next round
- 1× non-participating preference · broad-based anti-dilution
- Unlocks €1.25M non-dilutive funding · ENISA + CDTI Spanish government stack
Seed Lead · already in conversation
€1,500,000
for 25% equity
- €4.5M pre-money · €6M post-money
- Board seat · 3-person board
- 18–24 months of runway · through to Series A
- 1× non-participating preference · broad-based anti-dilution
- 10% ESOP · established post-close
What €80,000 becomes at exit.
5-year exit horizon. Multiples shown on the €80,000 at risk. Standard dilution assumed at Series A and Series B. Gross of the 1× non-participating liquidation preference that protects your downside.
| Exit scenario | Your €80k becomes | MOIC | 5-yr IRR |
|---|---|---|---|
| €50M · Conservative | €0.98M | 12× | 65% |
| €200M · Base | €3.92M | 49× | 117% |
| €500M · Bullish | €9.80M | 123× | 162% |
Scenario anchors: €50M reflects a modest regional acquisition. €200M reflects a strategic acquisition by Idealista, Casavo, or Securitize. €500M reflects EU category leadership. Not a promise, not a forecast, the shape of the opportunity.
Why this is worth 30 minutes of your time.
This is not another proptech
It is a brand new asset class for the tens of millions of Europeans locked out of European property ownership today. Regulated under Spain's Law 6/2023 with Cuatrecasas on the structuring and Andersen on the implementation.
Four Founding Partner agencies already signed
Melrose Properties (Costa del Sol), Strøm Capital (Nordic flow), Holborn Assets (UK/GCC HNWI), Estatiq AI (GCC tech). Same template, same terms, same €25k origination commission per €1M property, same 25% trailing royalty forever.
Founder locked for a decade
Kevin's 51% founder shares carry a 10-year sale lock-up. No secondary sales, no flipping at Series A, no flipping at Series B. Every euro of upside is aligned with the founder building this to lead the category.
What is already in place
Platform live. Legal engaged. Partners signed. CNMV pre-consultation prepared.
Live platform
splitup365.com
Web + iOS · pricing engine on 6,578 Costa del Sol properties
Legal
Cuatrecasas engaged
€6k structuring analysis · Andersen quoted for €64k full build
Partners
4 signed
Melrose · Strøm · Holborn · Estatiq · slot 5 reserved
Regulatory
CNMV in flight
Innovation Hub pre-consultation dossier prepared
Book a 30-minute call.
I will walk you through the deck, the cap table, the financial model, and the term sheet. No pressure, just honest answers to whatever you want to test.
Kevin Kulcsár · Founder & CEO · SplitUp S.L. (in formation) · Estepona, Málaga, Spain
This page is prepared for the information of prospective Founding Angel investors. It is not a public offering, not investment advice, and not a guaranteed return. All figures are forward-looking. Full diligence pack (Investor Deck, Cap Table Briefing, Financial Model, Shareholders Agreement) available on request.