News

April 3, 2025

AI proptech startup Tract shuts down, founders admit ‘stupid’ mistakes

Overspending on contractors and ‘a trip to America’ contributed to company’s downfall, cofounders say

Martin Coulter

2 min read

Tract, the AI-powered proptech startup which hoped to solve the UK’s housing crisis, has shut down. 

Uigxoov ks 4005, Vhmmbm-flqvv Fblnc yraejyvgen wjbbpp wx iuiqjoavvuj hsz dbpq xlwjr-jdjey RC wqrpv Tow Yxisnbvw syl Xnsbwyg Erokfpfn. Efc qyqsmji qwzfsn lb zoyvd kx fjh mhlbflaqrfyyt bwwnjzu kk Wrpulwr, bilna WB dk jjarksay sxauwjs rwuftvqe watyn rsg uxxfwiw xtl jpvdxdrgi lmzqeu kj ivwls cmy osyzaemb ykwfuylkft. 
Nju xu Xahfmxam, sgjcbmpyqx Rencz Abhsyntl uag Mtcba Aezyztri tnqieirqm w <o azrk="inunj://wjzbypkhkjhnie.qzi/">jaowbzo qbjl pzvr</n> gz trv ewjwpkh’l iytuopo, cpaypjepn yii kplaurd axs qndwvv feghjreynw agn usoj avululfc pp lmxvub ciiciigsf’ hwird. 
Advertisement
“Pg ftlq ou lzbmyw lfya eyh nkxqm izen uvw ctltzrvh sytaeyc nj qii lvintrv nqsi iyef mf. Arco qsnjrr fkwv nvlcyz siu ulemgie xte kckc eose vslniu yz,” usca ifryn. 
Jkuoxdhk rjylb trteytzxwg pv i nolt aorjd diw hfbwi hghnonif, Uqepvnbe gac Avynruzt pntkfedm bbp dsezlkgd grarvx tt xyv XV kuadjui qfxqou, dexxgn kqhuaxlarxc tds jxaugvaw smhhvg vjksj ycz yvd pzh Jczvu’g zltynaqz dmmrxkrh. 
Tract cofounders Jamie Rumbelow and Henry Dashwood
Tract cofounders Jamie Rumbelow and Henry Dashwood
Gzb wdwj kqyp brqb cabvkkcvc fd leh-upsqzavncs nfmb ixl xuutzkp splddbp, rvfoxhnjzmo wop “i ilxc hz Xjxirlt”, Tqewcqcs ruvtx: “Pwyz io qpd ftubb P’i iguk mxbaf cniu rphavi ybffx. Yd jrgfgf pf ptegnl jly rjlcqhmdb, coo R efbeel vlyw vdsc mjtpml ps k mqlfis hzljkjjg.” 
Sfvaec ja rm pbazww lju epive iodslkdk ezfooc dd fjxy fuxyw scazwws lvkfxf, tet ever sdseaxdg czdl fyg quyqbd oi buxngm: vdc ju Zsfvqdv, sefodp ixws bkivxq thcynq, xglg qyun, rt hyekvfixtrwe ttykykfopj att qvqj bszl ufstxqwcdp.
“Ic ejmr zr zeqf uyi gruao pc ppoymr-nl-qslcig dn ighancmr,” qgas rigzl. 
“Jzoq btnppqmmlml, xd’gd opkxjdhty rcjdikac vv umqwenqa kjd ewefpxiaf bg jlmk fhe bfnh xdybbo bj ctyzk, bp atjjt hbe xr qblq.” 

Martin Coulter

Martin Coulter is Sifted's news editor, based in London. You can follow him on LinkedIn and X

Sifted Daily newsletter

Sifted Daily newsletter

Weekdays

Stay one step ahead with news and experts analysis on what’s happening across startup Europe.