Harry Stebbings-backed proptech Ostrich shuts
A London-based proptech startup, backed by the VC and podcasterHarry Stebbings, which has raised nearly $4m in funding, has shut down. Ostrich, founded in 2021, was looking to disrupt the propertymark...
A London-based proptech startup, Ostrich, has ceased operations following a nearly $4 million funding round led by VC and podcaster Harry Stebbings. Founded in 2021, Ostrich aimed to revolutionize the property market by offering buyers access to properties before they were listed for sale. Homeowners could pre-market their homes up to five years in advance, while buyers could incentivize sellers to sell earlier through pre-offers.
The platform aspired to provide more options in the UK housing market, where only two percent of homes are actively for sale. Despite registering tens of thousands of buyers and thousands of sellers, Ostrich struggled to expand as anticipated. The funding, totaling $3.98 million, came from Stebbings' 20VC and proptech venture firm Era Ventures.
The company reportedly employed over ten individuals, but their future remains uncertain. Ostrich was co-founded by serial entrepreneurs Richard Foister, Duncan Jennings, and Max Jennings, who previously launched VoucherCodes and the family activity app Hoop. A message on the startup's website confirms its closure.
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