Dwelly, a London-based AI-first lettings and property management platform, has raised $93 million in funding led by General Catalyst, with participation from Begin Capital, s16vc – Founders for Founders Fund, and Trinity Capital. For this round, Trinity Capital said it committed $50 million in growth capital to support the company’s expansion across the UK.
Dwelly is building what it describes as an AI-native roll-up of the UK lettings market. The company acquires independent letting agencies and integrates them into its AI-powered operating system, creating a unified platform designed to streamline operations and improve service for landlords and tenants. Rather than replacing local brands, Dwelly preserves agency names, relationships, and local expertise while layering on automation and data-driven processes.
The UK has more than 20,000 letting agencies operating in what Dwelly estimates is a £100 billion market. Many still rely on manual workflows and phone-based coordination, often leading to delays in tenant onboarding and property maintenance. Dwelly’s platform automates key functions including tenant onboarding, rent collection, maintenance coordination, and compliance tracking.
Since launching less than two years ago, Dwelly says it has become a top 15 UK letting agent, with more than 10,000 properties under management and £200 million in rental roll. The company reports generating 10 times more validated applications per property, reducing letting times by a third, and cutting maintenance times by 33%, with a path toward a 70% or greater reduction.
The newly announced capital will be used to fund strategic acquisitions and further develop Dwelly’s technology stack as it scales nationally. The company’s long-term vision includes building a fully transactional rental marketplace supported by an integrated fintech layer for rent collection.
Trinity Capital, an international alternative asset manager focused on private credit markets, said the investment reflects growing momentum in AI-driven consolidation strategies across fragmented industries. Since its inception in 2008, Trinity Capital has deployed more than $5.5 billion across over 463 investments as of December 31, 2025.
Dwelly plans to use the combined equity and debt financing to accelerate its acquisition strategy, enhance its AI capabilities, and expand its footprint across the UK lettings market.
KEY QUOTES
“Today, we’re announcing $93M in funding for Dwelly, led by General Catalyst , with participation from Begin Capital, s16vc – Founders for Founders Fund, and Trinity Capital.”
“There are over 20,000 letting agencies across the UK, many of which still rely on manual processes, phone-based coordination, and traditional decision-making approaches. In a £100B market, this can sometimes lead to delays — with tenants occasionally waiting weeks for relatively minor maintenance issues to be resolved.”
“Dwelly is an AI-powered roll-up designed to modernise this sector. We acquire independent letting agencies and integrate them into our AI operating system, helping streamline operations, improve responsiveness, and enhance service quality.”
“Importantly, we don’t replace what makes these agencies valuable. We preserve their local brands, relationships, and expertise — while equipping teams with technology that enables to operate more efficiently and deliver a better experience for landlords and tenants alike.”
“We have crossed 10,000 properties under management, placing Dwelly among the UK’s top 15 letting agencies. Our vision is to build an end-to-end platform evolving into a fully transactional rental marketplace with a robust fintech layer for rent collection.”
Dan Lifshits, Co-Founder of Dwelly
“Dwelly is pioneering an AI-native roll-up of the UK lettings market—upgrading local agencies with a tech stack that drives productivity while harnessing their loyal tenant-landlord bases to build generational scale. We’re thrilled to fuel this evolution, helping independent agencies adapt to a consolidating market, secure flexible succession options, and transform a historically fragmented and operationally complex industry.”
Craig Fox, Managing Director Of Tech Lending – London At Trinity Capital
