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Dwelly raises $170M to expand AI-led acquisitions for rentals listings
The UK proptech firm said the funding will support growth beyond its 15,000-property roster and its AI agent staffing to manage more than 300 units per team.
UK-based proptech firm Dwelly said it raised $170 million to fund an “AI-forward” acquisition plan aimed at buying more property listing and related services businesses. The company, founded in 2023, runs an artificial intelligence-powered online platform for buying and selling real estate and focuses on acquiring small property management and brokerage companies.
The financing package announced Tuesday includes $95 million in equity co-led by General Catalyst and EQT Growth, plus a $75 million debt facility from Trinity Capital. Additional venture capital backers included Begin Capital, s16vc and DVC, and the firm said it has raised $260 million over the past three years.
Dwelly plans to use the cash to add more listing companies to its 15,000-property roster. Since formation, it has acquired 16 companies and said it accumulates $466 million yearly in rent.
The firm said its model uses AI to streamline operations, with staff supervising AI agents that can handle more than 300 units, up from 100 managed by human agents, and AI-driven maintenance workflows that cut completion times by 30%. Dwelly cited broader multifamily cost pressures, including flat property incomes and rising materials, insurance, and interest rates, and pointed to claims that AI-driven centralization can increase net operating income by 20% annually and reduce admin and leasing hours by 40%.