Pacaso CEO: $72 Million Retail Fundraise for Fractional Home Ownership Fit Our Mission

Second-home co-ownership platform Pacaso has closed a $72.5 million Regulation A+ round backed by more than 17,500 retail investors, marking one of the largest-ever raises under the SEC’s relatively new framework.

The funding puts Pacaso among only four companies to have raised more than $70 million through Reg A+, a milestone CEO Austin Allison said could reshape how late-stage startups in travel and real estate think about growth capital.

The move is unconventional in travel, where venture capital, private equity, and institutional money dominate investments.

Yet Pacaso’s decision to open its cap table to thousands of small investors reflects both a deliberate branding play, and a signal that retail investors could become a more meaningful part of the travel startup ecosystem.

“We didn’t go to institutional investors first,” Allison told Skift in an interview. “We decided to pursue Reg A as our fourth round of capital bec