Proptech startup Dwelly has announced a significant funding round of $170 million, aimed at accelerating its AI-powered rollup strategy. The company acquires and integrates letting agencies across the UK, embedding artificial intelligence into their operations.

The funding round was led by EQT Growth and existing investor General Catalyst. It includes $95 million in equity and a $75 million debt facility from Trinity Capital. Dwelly, founded in 2023 by former Uber and Gett executives, exemplifies the emerging "AI rollup" model.

Dwelly's approach involves acquiring established letting agencies and layering proprietary AI software to automate tasks such as tenant communications, maintenance requests, and rent collection. This latest funding follows a previous £69 million raise and underscores investor interest in using AI to modernize traditional businesses. Dwelly currently manages approximately 15,000 properties and collects around £350 million in rent annually.