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Media Uber/Lyft

SF’s Tech-Fueled Real Estate Surge Slows

After financial technology firm Credit Karma raised a $175 million Series D financing round last summer, the company went searching for office space in San Francisco that could hold hundreds of eventual hires. But after getting close to a deal that would nearly triple its footprint, top executives in recent weeks got cold feet about renovation costs and walked away, according to a person familiar with the situation.

Another fintech startup, Affirm, also recently pulled out of a deal to sublease about 50,000 square feet of space that Twitter leases in San Francisco. Neither deal breakdowns have been previously reported. Affirm declined to comment, while Credit Karma didn’t respond to a request for comment.

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