Dwelly grabs $170M from EQT and General Catalyst, backed by ElevenLabs, Legora and Synthesia's CEOs, to automate UK lettings — TFN

Dwelly, a company that buys UK letting agencies and runs them using AI, has raised $170 million in a Series B round led by EQT Growth and General Catalyst. This comes only five months after its last funding round.

The CEOs of ElevenLabs, Legora, and Synthesia, as well as KKR’s Philipp Freise, personally invested in this round. These AI leaders are backing a property services company rather than another AI lab.

Dwelly now manages 15,000 properties with a total rent roll of £350 million. The company says its AI allows one property manager to handle 300 units, up from 100 before.

Dwelly, a London startup that buys UK letting agencies and uses AI to run them, has raised $170 million in a Series B round led by EQT Growth and General Catalyst. The funding includes $95 million in equity and a $75 million debt facility from Trinity Capital.

Investors in the equity round included s16vc, Begin Capital, DVC, KKR’s Philipp Freise, and the CEOs of ElevenLabs, Legora, and Synthesia.