PropHero, an artificial intelligence-powered platform that helps real estate buyers find investment properties, has sacked most of its local staff less than two months after announcing it had secured $25 million in financing in a round led by ASX-listed venture capital firm Bailador.

Staff were told about the job losses at a meeting abruptly called by PropHero co-founders Mickael Roger and Pablo Gil Brusola earlier this month. Marketing functions will be moved to Spain, and the remaining Australian staff were asked to forgo salaries and work on a commission-only basis.