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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
The once-buzzy startup had raised more than $700 million in debt and equity from well-known investors such as Tiger Global Management, GGV Capital, and Andreessen Horowitz (a16z), among others. EasyKnock, a startup that billed itself as the first tech-enabled residential sale-leaseback provider, was founded in 2016 and had raised $455 million in funding from backers, including Blumberg Capital, QED Investors, and Northwestern Mutual’s corporate venture arm, according to PitchBook data. More than two dozen lawsuits were filed against EasyKnocks, and Michigan attorney general alleged that the company used “ deceptive practices ” by purchasing homes from those in financial stress at low prices and then charging them high rents.
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