Property management platform Dwelly has raised $95m (£70.7m) in Series B equity and secured a $75m (£55.8m) debt facility to fund the acquisition of independent UK lettings agencies.
The equity round was led by EQT Growth, with participation from General Catalyst, s16vc, Begin Capital and DVC. Private investors included Philipp Freise, co-head of European private equity at KKR, alongside chief executives from ElevenLabs, Legora and Synthesia.
The accompanying $75m (£55.8m) debt facility, provided by Trinity Capital, will fund portfolio acquisitions as part of a buy-and-build strategy across the fragmented UK property management market.
The company operates a tech-enabled roll-up model, acquiring independent agencies to absorb their recurring revenue streams onto its proprietary artificial intelligence platform. Automating administrative tasks such as maintenance coordination, rent collection and compliance checks enables individual property managers to handle 300 units, up from the industry standard of 100.
Dwelly currently manages over 15,000 properties representing £350m in gross rent roll. In the UK, 20,000 independent firms generate an estimated £10bn in agency commissions on £100bn of gross annual rent, though operators face margin pressure from heightened compliance demands under the Renters’ Rights Act.
The Series B equity injection follows a previous $93m (£69.2m) funding round completed in February 2026. The business plans to deploy the fresh capital to accelerate agency acquisitions, develop its software architecture and launch margin-adjacent financial products, including legal protection, rent guarantees and a contractor marketplace.
