Upstart real estate brokerage Properly Inc. has hired an investment bank to consider options including a sale, just a few years after rapidly expanding in Ontario.
“We received inbound acquisition interest, and have hired Raymond James to help us evaluate,” Mr. Ruparell said in an e-mail. Its main feature, called sales assurance, offered home sellers a guaranteed sale and price. It was designed to act as a backstop for home sellers by providing them with a firm purchase agreement to buy their property at a set price.
His company is among the many in the tech space that have suffered from cooling demand from customers who sought out their services during the pandemic lockdowns and low interest rate era. Over the past year and a half, tech companies have cut more than 360,000 jobs in a bid to slash costs as borrowing costs have soared, cooling investor interest in early-stage tech companies.
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