PropTech Dwelly Continues Expansion in the UK

The UK-based AI-enabled property management platform acquires Gallant Richardson agency

Dwelly, a UK-based AI-enabled letting and property management marketplace, has announced the buy-out of the Gallant Richardson agency, expanding its portfolio by 450 new units under management. The PropTech aims to shift the UK real estate sector with advanced technologies such as AI, and with the new acquisition, the company will significantly enhance the service quality for both tenants and landlords while empowering real estate agents with technological tools to run their business operations.

The acquisition of Gallant Richardson aligns with the company’s mission to technologically empower independently-run letting agencies while preserving their brand and legacy.  Gallant Richardson, founded in Colchester back in 1993, has grown into a leading local specialist in the sales, property management, and lettings market. Dwelly will help seamlessly integrate AI solutions, streamlining key processes such as tenant applications, ID checks, lease signing, and ongoing maintenance. 

This acquisition is another step towards revolutionizing the real estate sector, helping traditional agencies to overcome their inefficiencies through intelligent automation. Following our previous buy-out of Lime, where we already reduced time to rent by 80%, we aim to empower other agencies with similar tools that allow them to focus on growth while we handle the complexities of operations with seamless and systemic AI integration.

Ilya Drozdov, CEO and Co-Founder of Dwelly

“This acquisition is another step towards revolutionizing the real estate sector, helping traditional agencies to overcome their inefficiencies through intelligent automation,” said Ilya Drozdov, CEO and co-founder of Dwelly. “Following our previous buy-out of Lime, where we already reduced time to rent by 80%, we aim to empower other agencies with similar tools that allow them to focus on growth while we handle the complexities of operations with seamless and systemic AI integration.”

Historically slow to modernize, the real estate sector in the UK is seeing rapid change. This has led Dwelly to accelerate its growth through strategic partnerships and a targeted buy-out strategy, an approach that enables them to scale quickly, modernize agencies more efficiently, reduce operational costs and mitigate losses from human error, ultimately increasing margins.

“Dwelly invests in existing independent agencies with those businesses continuing under their current names and operating from their current premises with their current teams. I'm happy that all Gallant Richardson clients will continue to receive the service they are used to with further investment into the business,” said Andy Wade, Former Director of Gallant Richardson. 

Earlier in September, Dwelly completed the buy-out of Lime Property, the leading estate and lettings agency in Yorkshire, adding 1,000 properties to its portfolio.  The company was founded by Ilya Drozdov, Dan Lifshits, and Dmitry Khanukov, seasoned entrepreneurs with over 15 years of experience working together and a track record of successful exits in the tech-enabled lettings industry. Previously holding leadership positions at tech giants and consulting firms such as Uber, McKinsey, and Gett, they were inspired by their personal experiences navigating the cumbersome rental process in London.

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