Airbnb-Backed Real Estate Startup Zeus Living Is Shutting Down

Zeus Living, a property management startup that raised $150 million from tech investors, is “winding down operations,” the firm told landlords this week. The shutdown is the latest blow to a real estate tech sector struggling because of rising interest rates.

Zeus leased homes and apartments, furnished them and then sublet them to corporate workers looking for extended stays in about a dozen U.S. cities through its own site and other platforms like Airbnb. The company wrote in an email to landlords Monday that it was “struggling financially” and that it would no longer be able to make payments on homes.