Dwelly
Category: AI in Real Estate / PropTech
An AI-enabled lettings and property management marketplace that acquires independent UK letting agencies and integrates proprietary AI automation to digitize the entire rental lifecycle from tenant matching to maintenance coordination. Dwelly was founded in 2023. The company is led by Ilya Drozdov. Based in London, United Kingdom. Team size: ~300. Total funding raised: $263.0M. Latest round: Series B. Key investors include EQT Growth, General Catalyst, Begin Capital, S16VC, DVC, Trinity Capital.
- Founded
- 2023
- Headquarters
- London, United Kingdom
- Team size
- ~300
- Total funding
- $263.0M
Value proposition
Transforms traditional letting agencies into tech-enabled digital platforms within 2 months, delivering 3x margin improvement through AI automation of tenant onboarding, rent collection, maintenance coordination, and compliance tracking while reducing letting times by 33% and maintenance resolution times by 60%.
Products and solutions
AI-Powered Tenant Matching & Onboarding System, 24/7 Automated Tenant Chatbot Platform, Banking-Level KYC & Compliance Automation, Automated Rent Collection & Arrears Management, AI-Driven Maintenance Coordination System, Digital Self-Service Tenant Portal, Automated Compliance Tracking & Documentation, Agency Acquisition & Integration Platform
Unique value
Combines a roll-up acquisition strategy with proprietary AI operating system deployment, achieving 8x verified offers per property versus industry standard of 1-2, reducing tenant placement from 3 weeks to under 2 days, and enabling 100% automated compliance with zero manual intervention.
Target customer
Independent UK letting agency owners seeking exit opportunities; landlords requiring efficient property management; tenants seeking streamlined rental experiences
Industries served
Property Technology (PropTech), Real Estate Lettings & Management, Artificial Intelligence & Automation, Financial Services (Rent Collection)
Technology advantage
End-to-end AI automation covering tenant communication (24/7 chatbots), background verification (banking-level KYC, Right to Rent checks), rent collection (auto-reconciled Direct Debit), maintenance coordination (automated request triage with 20-day resolution versus 50-day industry average), and dynamic pricing optimization—delivering 2x operating profit margins compared to traditional agencies.
How they differentiate
Unique AI-native roll-up strategy acquiring independent agencies and deploying proprietary AI operating system, unlike pure SaaS competitors. Achieves 8x more verified offers per property, 60% faster maintenance resolution, 3x margin improvement within 2 months of integration through end-to-end automation including 24/7 chatbots, automated compliance, and dynamic pricing optimization.
Main competitors
Goodlord, OpenRent, Traditional UK Lettings Agencies
Key partnerships
EQT Growth (Lead investor, $95M Series B equity), General Catalyst (Series A lead; Series B co-investor), Begin Capital (Equity investor), S16VC (Equity investor), DVC (Series B equity investor), Trinity Capital (Debt facilities: $50M Feb 2026; $75M Jul 2026)
Notable customers
15,000+ properties / landlords under management, Tenants across UK rental portfolio, 16+ acquired independent letting agencies (incl. Lime, Brookdale, Goodwin, Eden Harper, Elliot Oliver, Move, Settio, AP Morgan, Shaws Kensington)
Major milestones
Founded 2023 by former Uber, Gett, and McKinsey executives, First agency acquisition (Lime Property) Sep 2024, Reached 10,000 properties / top-15 UK agency by Feb 2026, Secured £69M ($93M) Series A equity+debt Feb 2026, First London acquisition (Eden Harper, Apr 2026), Settio acquisition Jun 2026 — first international footprint (Singapore office; clients in 17 countries), Raised $170M Series B Jul 2026 (EQT Growth lead; $95M equity + $75M Trinity debt), Reached 15,000+ properties / top-10 UK agency / £350M rent roll by Jul 2026, 16+ agency acquisitions completed by mid-2026
Growth metrics
15,000+ properties under management, top-10 UK letting agency, £350M rent roll managed annually, 16+ agency acquisitions (PitchBook/TFN as of mid-2026; continued M&A incl. Settio, Move, Elliot Oliver, AP Morgan, Shaws Kensington), agents handle 300+ units each vs ~100 traditional, ~300 employees
Market positioning
Tech-enabled consolidator targeting highly fragmented £100B UK lettings market through acquisition and AI transformation of independent agencies. Positioned as hybrid between traditional agencies and pure SaaS platforms, owning and operating acquired agencies rather than just providing software.
Geographic focus
United Kingdom (primary focus); Singapore office and overseas-landlord reach via Settio (Jun 2026); planned further Western Europe expansion and eventual United States entry
Patents and IP
No registered patents publicly disclosed as of latest update
About Ilya Drozdov
Former General Manager at Uber (Russia/Continental Europe, 2014-2018), where he scaled Uber Russia operations. Previously co-founded and exited a tech-enabled rental agency in Eastern Europe that scaled to 10,000 apartments and £50M GMV. Serial entrepreneur with over 15 years of experience in technology, mobility, and real estate sectors.
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Official website: https://www.dwelly.group/