Digital real estate company Zillow is pulling the plug on its digital home-flipping operation called Zillow Offers, a unit which caused the company to lose more than $380M, according to a third-quarter earnings report.
Read MoreTill, a platform that allows renters to pay landlords, is rolling out a bundle of new features to entice renters to pay their bills on time, including the capability to spread out payments over a month, rent protection loans, and rewards for platform users.
Read MoreAs the pandemic recedes, it's clear that the proptech sector is largely emerging stronger, more resilient, and with more interest from investors than ever before. In fact, according to Crunchbase, VC-backed real estate tech companies raised a record $10.6B in the first six months of 2021, up from $8.3B in the same period in 2020. Meanwhile, companies in the real estate tech ecosystem are increasingly going public, with major IPOs like Procore and Compass, and SPAC tie-ups for companies like Offerpad, SmartRent, Hippo, Doma, and more.
Figure, a fintech firm led by ex-SoFi CEO Mike Cagney that focuses on using blockchain for loan origination, equity management, private fund services, and payments, is partnering with mortgage and consumer loan servicer Sagent to help grow its mortgage market share.
Read MoreBetter.com, the 5-year-old digital mortgage provider, is acquiring U.K-based digital mortgage broker Trussle Lab in its first overseas expansion move. Terms of the deal were not disclosed.
Read MoreBilt, a New York-based startup, has teamed up with property managers including Blackstone, Starwood, and Equity Residential, to launch a fee-free credit card that allows customers to earn rewards from rent payments that go toward mortgage payments.
Read MoreBetter, a 5-year-old digital mortgage lender, is merging with special-purpose acquisition company Aurora Acquisition Corporation, in a $7.7B deal to take the company public.
Read MoreReal estate has had quite the year, which has only fueled innovation in the space. It will be exciting to see what more will develop around proptech’s intersections with asset management and insurance, as well what proptech can do to advance environmental sustainability, co-living solutions, and…
Read MoreCadre, a 6-year-old startup that lets clients invest in real estate, is rolling out a savings account that offers 3% interest up to the amount clients have invested in their real estate portfolios.
Read MoreTill, a Washington, D.C.-based startup that allows customers to set customized rent payment schedules, has raised $8M in seed funding to enhance the platform and grow adoption.
Read MoreReal estate marketplace Opendoor is going public through a merger with Social Capital Hedosophia II, a special purpose acquisition company (SPAC) associated with investor Chamath Palihapitiya.
Read MoreHome Point, which claims to be America’s second-largest wholesale mortgage lender for residential loans, is partnering with digital lending fintech Figure to offer a white-labeled digital home equity line of credit product to its customers powered by Figure’s software.
Read MorePre-COVID, there were tailwinds for proptech. While the forecast calls for headwinds and more friction in the next year or so, dealmaking hasn’t dried up.
Read MoreAfter WeWork dominated news cycles in the autumn — as the media recounted the fall of the shared workspace company and its CEO Adam Neumann, whose hubris-fueled rise and fall was like that of a doomed king from a Shakespearean tragedy — you may be wondering what the company is up to now.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
