Dwelly has raised $170m in a Series B round to support the build-out of an AI operating system for UK lettings agencies.
The Series B was led by EQT Growth, with participation from General Catalyst, s16vc, Begin Capital, DVC. Great founders included the CEOs of Legora, Synthesia, and ElevenLabs, plus Philipp Freise, Partner and Co-Head of European Private Equity at KKR.
The round includes $95m in equity and a $75m debt facility led by Trinity Capital. The funds will be used to boost AI-native platform development and acquire more independent agencies to bring them onto Dwelly’s operating system.
The Series B will give Dwelly more capacity to improve AI and integrate more agencies – and they will look to investment in three key areas. Firstly, AI development to deepen automation across lettings, property management, rent collection, compliance and maintenance, with clear handoffs between AI agents and staff.
Secondly, expansion – to continue buying high-quality independent agencies across the UK – then beyond and integrating them into Dwelly’s AI operating system. Lastly, Dwelly will invest meaningfully in the experience provided to landlords and clients. Their AI-native model moves away from administrative work and dedicates more time to clients and landlords, addressing their concerns and improving their experience.
The company intends to build-out a full suite of products, ranging from legal protection and rent guarantees, to a variety of financing options and a contractor marketplace, so working with Dwelly feels different from working with any other player in the market.
Dwelly has formed strong momentum in 2026 already, with earlier acquisitions in the year of Cheltenham-based agencies Move and Elliot Oliver. The company also made its first international acquisition recently of international property management and investment services firm Settio.
