> ## Content Index > Fetch the complete content index at: https://entrepreneurplus.co.uk/llms.txt > Use this file to discover other available public pages before exploring further. # Tract - URL: https://entrepreneurplus.co.uk/graveyard/tract/ - Published: 2026-10-21T11:10:27.000Z - Updated: 2026-10-21T11:30:02.000Z - Description: AI planning-permission software; closed Mar 2025, capital returned, solvent liquidation - Author: Editorial Desk - Tags: #ep-grave ✝ Startup · Solvent liquidation (MVL) · March 2025 AI planning-permission software; closed Mar 2025, capital returned, solvent liquidation Companies House [14832496](https://find-and-update.company-information.service.gov.uk/company/14832496?ref=entrepreneurplus.co.uk) · Dissolved on 3 October 2026 How it ended Solvent liquidation (MVL) Ended March 2025 Founded 2023 Sector Proptech Based in London Funding raised £744K Backed by Ada Ventures, Concept Ventures Last known website [buildwithtract.com](https://buildwithtract.com/?ref=entrepreneurplus.co.uk) Last checked 21 October 2026 ## What happened Tract (Tract UK Ltd) was a London proptech founded in May 2023 by Jamie Rumbelow and Henry Dashwood to speed up Britain's planning system. It iterated through several products: a site-sourcing tool for developers, a land-appraisal tool for landowners, a tech-enabled land-promotion service and finally Tract Editor, an AI platform for drafting planning documents. It raised a £744,000 pre-seed round in April 2024 co-led by Ada Ventures and Concept Ventures. In March 2025 the founders stopped operations, having generated no revenue in almost two years, and returned the remaining cash to investors. Their public post-mortem blamed a small, fragmented and change-resistant UK property market, customers unwilling to pay even at steep discounts, overspending on an office, branding and a US trip, and overlapping founder skill sets. The company passed a special resolution to wind up on 13 June 2025, with a declaration of solvency, and was dissolved on 3 October 2026. ## Why - No product-market fit - Demand fell away - Founder / team ## What happened to the assets, customers and team Operations ceased in March 2025 and leftover capital was returned to investors; the company went through a members' voluntary liquidation (liquidator appointed June 2025, final meeting returned July 2026) and was dissolved on 3 October 2026\. The founders published a detailed post-mortem on the company site. ## In their words > The British market was too small, fragmented, and resistant to change > > Jamie Rumbelow and Henry Dashwood, co-founders (post-mortem) · [source](https://buildwithtract.com/?ref=entrepreneurplus.co.uk) > Despite positive feedback, customers weren't ready to commit, even with steep discounts. > > Jamie Rumbelow and Henry Dashwood, co-founders (post-mortem) · [source](https://buildwithtract.com/?ref=entrepreneurplus.co.uk) > It smacks of vanity and stupidity, and I should have held myself to a higher standard. > > Jamie Rumbelow, co-founder · [source](https://www.uktech.news/proptech/vanity-and-stupidity-ai-proptech-startup-tract-shuts-for-business-20250404?ref=entrepreneurplus.co.uk) ## Lessons The founders' own conclusions: validate willingness to pay before raising venture money, pick a market large and receptive enough for venture-scale returns, and stay lean rather than spending on an office, branding and travel. They also advised hiring to fill genuine skill gaps instead of duplicating the founders' strengths. ## Backed by - [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/ada-ventures-logo.png)Ada Ventures](https://entrepreneurplus.co.uk/investors/ada-ventures/) - [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/concept-ventures-logo.png)Concept Ventures](https://entrepreneurplus.co.uk/investors/concept-ventures/) ## Sources 1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/14832496?ref=entrepreneurplus.co.uk) 2. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/14832496/filing-history?ref=entrepreneurplus.co.uk) 3. [buildwithtract.com](https://buildwithtract.com/?ref=entrepreneurplus.co.uk) 4. [businesscloud.co.uk](https://businesscloud.co.uk/news/tract-co-founder-release-postmortem-after-startup-collapses/?ref=entrepreneurplus.co.uk) 5. [uktech.news](https://www.uktech.news/proptech/vanity-and-stupidity-ai-proptech-startup-tract-shuts-for-business-20250404?ref=entrepreneurplus.co.uk) ✓ Verified by EP+ Every Graveyard entry is checked against Companies House and the sources above, and re-checked periodically. Spotted an error or a company that has been rescued? [Tell us](mailto:info@entrepreneurplus.co.uk?subject=Graveyard%20correction%3A%20Tract). [← The Graveyard](https://entrepreneurplus.co.uk/graveyard/)