Dwelly – an AI-enabled letting and property management marketplace – has purchased Hull-based estate agency Lime Property.
This is just the start for Dwelly, as the platform plans to buy a number of firms, transforming agents into tech-enabled digital lettings platforms in the process.
The firm said the plan is to free up time for property managers to focus on critical tasks instead of repetitive ones.
Ilya Drozdov, chief executive of Dwelly, said: “In the past three years, the UK real estate market has experienced numerous M&A deals, with over 20,000 agencies operating.
“Traditionally dominated by international giants and private equity firms lacking in technical expertise, these deals have often struggled with digital transformation.
“Dwelly aims to bridge this gap by using advanced technology to boost operational efficiency and drive innovation in the sector.”
Lime Property has been an estate and lettings agency for the past 10 years, operating as both an estate and lettings agency with a revenue of £1.2 million and employing 15 people.
Sam Humphreys, managing director of Lime Property and shareholder at Dwelly, said: “With over 20 years of experience in the real estate industry and having worked with Lime from its inception, I recognise that the sector is poised for the implementation of new strategies.
“Our team is committed to expanding the Dwelly marketplace’s network by leveraging AI solutions and automating business processes, thereby enhancing the experience for both landlords and tenants.”
Credit: Source link
