VC or PPP? Some proptech firms got both

“According to SBA data, Homelight received a loan between $5 million and $10 million in April to retain 213 jobs. The San Francisco-based company, which declined to comment, has raised $164.5 million in debt and equity since 2012.”

HomeLight is a consumer brokering scheme that collects a blanket referral fee from random brokers across the US. As a broker, it has not helped a single consumer to buy or sell a single home, yet it has collected BILLIONS in illegal kickbacks from real estate transactions.

Allocation of consumers between real estate brokers should not result in a loan forgiveness, but an antitrust action. Truly appalling abuse of the Paycheck Protection Program.

#antitrust #ppp #vc #consumerallocation #realestate #proptech Federal Trade Commission U.S. Department of Justice California Department of Justice California Department of Real Estate

Author: Litesand

Antitrust, real estate, e-commerce, fintech, proptech, bigtech View all posts by Litesand