AI rollup startup Dwelly raises $170m backed by EQT and General Catalyst

Proptech startup Dwelly has secured $170 million in funding to advance its AI-powered rollup strategy. The round was led by EQT Growth and General Catalyst, with additional contributions from Trinity Capital. The company, founded in 2023 by former Uber and Gett executives, acquires established letting agencies in the UK and integrates AI technology into their operations.

Its software automates tasks such as tenant communications, maintenance requests, contracts, and rent collection. The funding will be used to finance further acquisitions, allowing Dwelly to expand its network of 17 lettings agencies managing 15,000 properties and generating £350 million in annual rent.