Scoperty wanted to transparently map the entire German residential real estate market. Interview with Munich Startup from December 2020 the then CEO Michael Kasch explained:
“Owners and prospective buyers can explore possible selling and buying options before the start of an official sales process.
Scoperty's goal was to facilitate the initiation of real estate sales. However, the transparency the startup created in the real estate market didn't please everyone. Many homeowners, real estate agents, and investors criticized the offering for allegedly inaccurate data. Furthermore, many owners did not want the value of their real estate assets published online. Some critics will therefore likely be pleased by the news of Scoperty's shutdown.
Lack of financing means the end for Scoperty
Scoperty shut down its portal on November 25. A brief message in German and English on the company's website states:
"We are very proud of what we have achieved together. After a local launch in Nuremberg, we quickly expanded nationwide and gained the trust of more than 70,000 registered users. From the very beginning, our users embraced the concept and committed to registering their properties and using our platform. Furthermore, we have influenced data-driven journalism by providing unique insights into regional and national real estate trends and developments."
A larger financing round would have been necessary for the necessary further development of the real estate platform. However, due to the "currently difficult global economic situation," it was "not possible to raise the necessary funds for Scoperty's further growth."
The company writes about the future:
"The Sprengnetter Group, one of Scoperty's founding shareholders, is acquiring the technology developed by Scoperty and plans to use parts of it to integrate it into its B2B products and potentially create new tools for the professional real estate sector. The C2C and B2C offerings will be discontinued. We will ensure that your data remains secure with Scoperty and will provide you with information on the further process shortly.
