Here, a Miami-based fractional short-term vacation rental marketplace startup, has shut down its investment platform on January 3, 2024, citing the challenging interest rate environment and economic conditions. While the company did not disclose specific layoff figures, the closure of this core platform suggests a significant operational downsizing. Founded in 2021 and launching in 2022, the proptech/fintech startup had raised $5 million in known funding. The platform, which allowed investors to buy partial ownership in vacation rentals for as little as $1, reported a net loss from its properties in the first half of 2023. The company stated its other business units would continue, but the investment platform's failure reflects broader struggles for proptech ventures in the current financial climate.
