Failed Real Estate Startups
55 venture-backed real estate startups have shut down after raising $2.7B combined — about 2% of the entire graveyard. The biggest cohort last raised in 2022, and the most common final round was Seed.
PropTech startups carried venture expectations into an asset class with cyclical demand and thin intermediary margins. Rising rates broke the models that depended on transaction volume or cheap capital.
The Damage, by the Numbers
$4.7M
Median raised before shutdown
$49.1M
Average raised — the big flameouts drag it up
11
Died holding $100M+ in funding
0
Raised $1B+ and still closed
Class of the crash
Closed real estate startups by year of their final funding round
18
24
6
7
2021
$390.6M
2022
$1.2B
2023
$536.8M
2024
$552.7M
How far they got
Last round raised before shutting down
Pre-Seed
9
Seed
19
Series A
5
Series B
3
Series C+
2
Debt & Notes
5
Other
12
Based on the last five years of fundraising data tracked in the VCbacked database.
The Graveyard
Showing 100 of 55 closed startups
Company | Raised | Last Round | What They Did | Location | Founders | Site | Contact |
|---|---|---|---|---|---|---|---|
EasyKnock | $429.7M | Series D | EasyKnock provides sale-leaseback solutions that help homeowners to convert their home equity to cash. | New York, New York, United States | Ben Black | Reveal | |
FlipOS | $350.0M | Debt | FlipOS is a b2b Decentralized iBuyer, tailor made for professionals. | Phoenix, Arizona, United States | Or Agassi | Reveal | |
Stoa | $300.0M | PE | Stoa is a fintech firm that focuses on streamlining the process of purchasing, remodeling, and managing real estate investments. | Phoenix, Arizona, United States | Or Agassi | Reveal | |
Reali | $292.4M | Debt | Reali is a real estate and fintech company that is creating a one-stop-shop to make homeownership simple, affordable and stress-free. | San Mateo, California, United States | Ami Avrahami | Reveal | |
REZI | $230.0M | Series B | REZI is a rental company that provides leasing and financial technology for tenants, property owners, and landlords. | New York, New York, United States | Harsh Yadav | Reveal | |
Properly | $154.3M | Series B | Properly is a Canadian tech-enabled real estate brokerage transforming the home buying and selling experience. | Toronto, Ontario, Canada | Anshul Ruparell | Reveal | |
Zeus Living | $151.6M | Secondary | Zeus Living provides furnished housing intended for business and personal travel. | San Francisco, California, United States | Joe Wong | Reveal | |
REX - Real Estate Exchange | $145.5M | Debt | REX is a digital platform and real estate service company where homeowners can list, discover, and purchase homes outside the MLS. | Woodland Hills, California, United States | Jack Ryan | Reveal | |
TopHat.Io | $122.7M | Venture | TopHat.Io is a technology-driven modular housing manufacturing. | London, England, United Kingdom | Jordan Rosenhaus, Krishan Pattni | Reveal | |
Common Living | $113.3M | Series D | Common Living is a community-driven residential company that brings community, convenience, and flexibility to housing. | New York, New York, United States | Brad Hargreaves | Reveal | |
Unlock Real Estate | $110.0M | Note | Unlock is the AI-powered real estate investment manager | New York, New York, United States | Matias Recchia | Reveal | |
Neat Capital | $50.4M | Series B | Neat Capital enables clients to purchase homes with cash offers and close with financing in 10-15 days. | Boulder, Colorado, United States | Chad Lewkowski | Reveal | |
Unreserved | $37.1M | Seed | Unreserved is an Ottawa, Ontario, Canada-based PropTech company, | Nepean, Ontario, Canada | — | Reveal | |
Juno | $31.3M | Series A | Juno develops apartment buildings intended to offer environment-friendly and speedy housing alternatives. | San Francisco, California, United States | BJ Siegel, Chester Chipperfield, Jonathan Scherr, Marshall Everett | Reveal | |
LEX Markets | $27.5M | Series A | LEX Markets is a commercial real estate securities marketplace that takes commercial buildings public through single-asset IPOs. | New York, New York, United States | Dean Sterrett | Reveal | |
Tai Fan Wing Group Holdings | $19.0M | Corporate | Overseeing Hong Kong casino junket operators and China's BRI funds into Vietnam real estate development sectors. | Hong Kong, Hong Kong Island, Hong Kong | Andy Guo J. | Reveal | |
Silofit | $15.0M | Series A | Silofit is a network of private, on-demand gyms that can be rented by the hour using their app. | Montréal, Quebec, Canada | Adrien Caranta | Reveal | |
Naborly | $13.5M | Seed | Naborly provides ID verification and screening for landlords and tenants. | Toronto, Ontario, Canada | Dylan Lenz | Reveal | |
Aalto | $13.0M | Series A | Aalto is a real estate platform that offers home buying and selling services. | San Francisco, California, United States | Nick Narodny | Reveal | |
SpaceIQ | $11.5M | Venture | SpaceIQ is an innovative technology driven software company that provides cloud-based workplace management platform. | Mountain View, California, United States | Jeff Revoy | Reveal | |
Daybase | $9.6M | Seed | Daybase is a local network of on-demand workstations that fit your schedule and are designed for today's remote worker. | New York, New York, United States | Adam Koogler | Reveal | |
G. G.T. Enterprises, Inc. | $6.2M | Undisclosed | Gaffney-Thompson Enterprises was an American private investment group with global reach to Antigua & Barbuda and Poland. | Cincinnati, Ohio, United States | Conlan Thompson | — | Reveal |
DwellWell | $6.0M | Seed | DwellWell creates delighted home buyers and successful real estate agents automatically. | Culver City, California, United States | Matt Canzoneri | Reveal | |
doorkee | $5.9M | Note | Doorkee develops a peer-to-peer rental platform that connects departing tenants, apartment seekers, and landlords. | New York, New York, United States | John Fagan | Reveal | |
Housmart | $5.5M | Venture | Housmart is a real estate media company that offers sales empowerment tools. | Tokyo, Tokyo, Japan | Hariyama Masayuki | Reveal | |
Here | $5.0M | Seed | Here is a financial service company that provides tools, access, and support to vacation rental investors for investment in properties. | Miami, Florida, United States | Corey Ashton Walters | Reveal | |
Rubik | $4.8M | Seed | Rubik is a financial data platform for single family homes. | New York, New York, United States | Amar Sehic | Reveal | |
Upmin | $4.7M | Seed | Upmin is an online platform for real estate management and works as a digital property manager. | Berlin, Berlin, Germany | Henning Frank | Reveal | |
Property Source USA, Inc | $4.2M | Seed | Property Source is a MLS style real estate marketplace and transaction engine platform for ON, OFF-market and Block-chain properties. | Sarasota, Florida, United States | Abul Hasem, Diane Kole, Mark Kole | Reveal | |
Rook Capital | $4.1M | Seed | A modern fintech and real estate investment platform that helps solve home affordability. | Boulder, Colorado, United States | Ed Messman | Reveal | |
Animated Insights | $3.0M | Angel | Digital Twin Operating System for Real Estate and the Built World | New York, New York, United States | — | Reveal | |
Expetitle | $2.5M | Seed | Expetitle is a multi-state title company that helps make more money for brokerages, saves time for realtors. | Miami, Florida, United States | Sean Daly | Reveal | |
Ink | $2.3M | Venture | Ink is a mobile-first real estate tool designed to let agents create, edit and sign contracts on their phone in minutes. | Austin, Texas, United States | Caleb Jones | Reveal | |
TruLiv | $2.3M | Seed | TruLiv Investment Solutions is an end-to-end technology platform for SFR and Multifamily investors | Santa Monica, California, United States | Jeff Eigenbrood | Reveal | |
REDIST | $1.9M | Venture | We are making it easy to find and use real estate incentives | New York, New York, United States | Atif Qadir | Reveal | |
Hedgehog | $1.7M | Crowdfund | Hedgehog is a blockchain-driven investing platform that makes fractional investments in real-world assets available to individual investors | London, England, United Kingdom | — | Reveal | |
OP OPULENT SOCIETY | $1.6M | Undisclosed | Luxury Influence Ecosystem | Private Networks | Reputation & Relationship Architecture | Sweden, South Carolina, United States | Daksh | — | Reveal |
MoveWise | $1.4M | Seed | MoveWise is a UK-based proptech company that uses deep technology to help property sellers efficiently sell their homes. | London, England, United Kingdom | Tom Scarborough | Reveal | |
neu | $1.1M | Seed | neu is a reliable platform that provides quality cleans, on-demand. | Seattle, Washington, United States | Claudius Mbemba | Reveal | |
RUUF | $910K | Pre-Seed | RUUF's gradual ownership model provides a solution for homebuyers who can't afford to buy a home via mortgage loan | Istanbul, Istanbul, Turkey | Mert Peksevin | Reveal | |
Circular Hospitality | $750K | Series A | Circular Hospitality is a tech-enabled vacation rental platform providing a seamless lodging experience with premium hotel amenities. | Allston, Massachusetts, United States | — | Reveal | |
Particle Space | $750K | Seed | Particle Space is a developer of real estate APIs and property management software platforms. | Overland Park, Kansas, United States | David Biga | Reveal | |
4URSPACE | $678K | Pre-Seed | Empowering global retailers to collaboratively manage construction projects and sustainability goals | New York, New York, United States | Ori Klein | Reveal | |
Kitchen Door | $670K | Seed | Kitchen Door provides design-build landscaping services intended to protect the planet and recreate residential relationships. | Denver, Colorado, United States | — | Reveal | |
Octta | $614K | Seed | Octta is a proptech company that matches vetted professional tradespeople with property management companies, landlords, and homeowners. | London, England, United Kingdom | — | Reveal | |
Loppo | $600K | Pre-Seed | Marketplace to Rent Commercial Properties ("QuintoAndar B2B") | Pinheiros, Sao Paulo, Brazil | Guilherme Pinho | Reveal | |
Realthy | $541K | Pre-Seed | Realthy is a vetted online resource that provides value for real estate professionals. | Oakland, California, United States | — | Reveal | |
alohome | $520K | Pre-Seed | Building the transactional layer for new home sales in Latin America, empowering buyers, developers, and salesteams to digitalize. | Mexico City, Distrito Federal, Mexico | Eduardo Orozco | Reveal | |
lintil | $393K | Seed | Virtual Home Buying Assistant | Dublin, Dublin, Ireland | Emmet Creighton | Reveal | |
MoveGenius | $391K | Pre-Seed | MoveGenius is a digital onboarding tool that automates vendor onboarding for estate agents. | London, England, United Kingdom | — | Reveal | |
ClimeCast | $375K | Pre-Seed | Improving the energy efficiency of commercial real estate. | Champaign, Illinois, United States | Krishna Ramaswamy | Reveal | |
tenderie.com | $288K | Seed | Let's Build something together | Stockholm, Stockholms Lan, Sweden | Alexander Tchibaline | Reveal | |
Ruby Datum | $268K | Crowdfund | Ruby Datum is a UK technology company specialising in virtual data rooms and contract management software. | Exeter, Devon, United Kingdom | Nicholas Watson | Reveal | |
Rentry | $250K | Pre-Seed | Rentry is a small real estate investment marketplace that uses data, analytics and artificial intelligence. | White Plains, New York, United States | — | Reveal | |
RealMe Property | $250K | Pre-Seed | RealMe Property is Canada's First Real Estate Trading Platform. Invest in real estate starting at only $10. | Oakville, Ontario, Canada | Akshat Soni | Reveal |
More From the Graveyard
Frequently Asked Questions
How many real estate startups have failed?
The VCbacked Startup Graveyard currently tracks 55 venture-backed real estate startups that have shut down, collectively raising $2.7B before closing. That is roughly 2 percent of all closed companies in the database, which is based on the last five years of fundraising data.
What is the biggest real estate startup failure?
By total capital raised, the largest real estate failure in the database is EasyKnock, which raised $429.7M before shutting down.
Why do real estate startups fail?
PropTech startups carried venture expectations into an asset class with cyclical demand and thin intermediary margins. Rising rates broke the models that depended on transaction volume or cheap capital. Across the dataset, the most common last round before shutdown in real estate was Seed, and the largest cohort of failures last raised in 2022.
Can I contact founders of failed real estate startups?
Founder names are shown free on this page for every closed real estate company. VCbacked paid plans reveal verified founder contact details where available and unlock CSV export.