Miami-based real estate technology company Propy has successfully secured a $100 million credit facility to enhance its innovative approach to automating real estate closings. This funding, provided by Metropolitan Partners Group, a private investment firm, is aimed at scaling Propy’s artificial intelligence-driven solutions in property transactions.
The process of buying a home in the United States typically involves substantial transaction costs, often up to 10% of the property’s value. These costs can be exacerbated by the numerous parties involved and the slow movement of paperwork, leading to closing fees that sometimes surpass the buyer’s down payment. Propy aims to streamline this process by utilizing AI agents that perform tasks traditionally handled by escrow officers. These agents operate around the clock, managing tasks such as opening transactions, reviewing emails, and coordinating with lenders and homeowners’ associations.
Transforming Real Estate Closures
Founded by Natalia Karayaneva, Propy integrates licensed title and escrow operations with advanced technology. The company’s platform automates the entire real estate closing process, from the initial offer to the final deed recording. This allows transactions to be conducted 24/7, significantly reducing the need for intermediaries and minimizing paperwork while enhancing security.
Propy’s innovative solutions are already making an impact; since 2021, the company claims to have processed over $5 billion in real estate transactions, with volumes roughly doubling each year. Through strategic acquisitions, Propy anticipates adding approximately $100 million in annual revenue. Karayaneva envisions a future where “multi-agent orchestration will allow transactions to become so smooth and cheap that the new generation will be buying homes anytime they change cities.”
Future Growth Plans
With the new funding, Propy plans to target acquisitions of title and escrow firms that generate between $5 million and $20 million in annual revenue. The focus will be on expanding in states such as California, Texas, and Tennessee, while retaining local teams to ensure continuity in service.
Once acquired, these firms will undergo upgrades through automated workflows, which can decrease manual work by up to 70%. The integration of blockchain technology will further enhance auditability and security during settlements. Propy’s roll-up strategy is already demonstrating considerable interest; the company recently completed a second acquisition valued at $5 million and signed a letter of intent for another deal worth $6 million. Propy also has approximately $75 million in transactions currently in its active pipeline.
“We’re building the infrastructure layer that allows real estate to operate on par with modern financial markets: AI-enabled and more liquid,” stated Natalia Karayaneva, Founder and CEO of Propy. This ambitious vision suggests a significant shift in how real estate transactions will be conducted in the future, making them more efficient and accessible to a broader audience.
