Queensland-based proptech startup Revalu8, which raised $1.5m in seed funding in July, has entered liquidation after disagreements between shareholders over the company’s direction.
Administrators from Worrells Insolvency were appointed to Revalu8 Limited on 13 February and after a second meeting of creditors on 10 March, a decision was made on 20 March to place the company in liquidation.
Worrells Partner Jason Bettles said that funds for the business “dried up” after a disagreement between shareholders. The company reportedly owes nearly $900,000 to creditors.