When accounting startup Bench abruptly failed last month, the shutdown was forced when the company’s lenders called in the startup’s loan. In late 2023, the digital freight company Convoy faced financial challenges, leading venture lending firm Hercules Capital to assume control of the company to recover its investments. Divvy Homes, which sold for about $1…
Category: shutdowns
Andreessen Horowitz, Blumberg Capital, Divvy Homes, Global IT News, Global Security News, PropTech, QED Investors, Real estate, shutdowns, Startups, Tiger Global Management
Once high-flying proptech startups Divvy Homes and EasyKnock are the latest to struggle
Many proptech startups, born and funded during the low-interest-rate heydays, are in the throes of struggle. With investments into U.S.-based real estate startups falling from $11.1 billion in 2021 to $3.7 billion last year, according to PitchBook data, some are selling themselves off, while others are closing shop. The two most recent examples are the…