Why proptech and real estate can't get enough of SPACs

Samantha Lee/Insider
SPACs are taking real-estate tech companies public, and real-estate companies are raising SPACs.
It's partly timing: Proptech companies are maturing at the same time as the SPAC boom.
VCs said proptech, which brings new business models to an ancient industry, is well suited to SPACs.
Between 2020 and 2021, almost 500 special purpose acquisition companies were filed. In 2019, there were only 59. This tidal wave is due to a combination of low interest rates, big public-market valuations, and large financial incentives for
SPAC
sponsors and private investors. And now this surge is coming to the vast field of real-estate and construction startups known as property technology.

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