Pacaso, the technology-enabled real estate marketplace for co-owned luxury vacation homes, continues to focus on second-home ownership with its recent expansion into Mexico, steady financial results, and an investment opportunity for individual investors.
Founded in 2020 by former Zillow executives Austin Allison and Spencer Rascoff, Pacaso has scaled its operations, leveraging a fractional ownership model to make luxury vacation homes accessible to a broader client-base.
The company’s latest developments indicate its commitment to growth, accessibility, and more sustainable real estate practices.
On July 17, 2025, Pacaso announced a strategic expansion of its Mexico portfolio, introducing co-ownership opportunities in Punta de Mita, Riviera Maya, and Mexico City (CDMX).
Building on its Los Cabos portfolio, Pacaso is now targeting these destinations to meet growing demand from U.S. buyers seeking luxury second homes.
Punta de Mita, located an hour north of Puerto Vallarta, offers ultra-luxury living with private beach clubs and championship golf courses.
In Riviera Maya, Pacaso is focusing on communities like Playa del Carmen and Tulum, known for wellness-driven amenities and high-end properties.
Mexico City’s sophisticated neighborhoods, such as Polanco and Roma Norte, provide an urban contrast with their blend of art, culture, and dining.
Each property undergoes rigorous compliance reviews, ensuring alignment with local regulations, and Pacaso offers third-party financing and full-service management for a better ownership experience.
Pacaso’s growth extends beyond geographic expansion.
On October 1, 2024, the company launched a Regulation A+ growth round, allowing both accredited and non-accredited individual investors to purchase stock alongside marquee investors like Softbank, Maveron, and Greycroft.
This initiative democratizes access to Pacaso’s equity, aligning with its mission to make wealth-building more inclusive.
Funds from this round, aiming to raise up to $75 million, will support portfolio expansion and investments in product, engineering, and home operations, enhancing the co-ownership experience.
Financially, Pacaso reported strong performance for the first half of 2024, with a 36% year-over-year increase in gross real estate transactions and associated service fees, totaling approximately $87.9 million.
Adjusted gross profit grew by 38% to $13.2 million, while adjusted EBITDA loss improved from $16.9 million to $10.3 million, reflecting tighter financial discipline.
The company also reduced real estate inventory and investment assets by over 30%, signaling a strategic focus on operational efficiency.
These results follow a full-year 2024 performance where Pacaso facilitated $164.5 million in transactions and achieved an 18% increase in adjusted gross profit.
An earnings call on November 21, 2024, hosted by Allison and CFO Alvaro Cortes, further detailed these achievements, underscoring Pacaso’s path toward sustainable profitability.
Additionally, Pacaso’s inaugural YIMBY (Yes In My Backyard) Report, released on June 10, 2024, highlighted Washington, D.C., as the top metro area in America for supporting housing development.
The report, which analyzed communities addressing the national housing shortage, also recognized Chicago, Austin, and Minneapolis for their housing policies.
This acknowledgment reflects Pacaso’s impact on housing markets, as its co-ownership model—supported by a 2025 Bay Area Council Economic Institute study—claims an 89% occupancy rate for its homes, compared to 39% for traditional second homes, driving higher local spending and tax revenue.
Since its inception, Pacaso has raised over $246 million in equity financing and operates in nearly 40 markets across the U.S., U.K., Mexico, and France.
With a valuation of $1.5 billion and a Nasdaq ticker reservation (PCSO), Pacaso is set for growth, blending accessibility and luxury to enhance the second-home ownership process.