Miami proptech Propy raises $100M debt to automate real estate closings — TFN
Buying a home in the US often involves transaction costs that can reach 10% of the property’s value. With multiple parties involved and paperwork moving slowly among them, closing fees can sometimes exceed the buyer’s down payment.
Miami-based real estate tech company Propy wants to cut that friction. The company has built AI agents that already handle tasks usually done by escrow officers, such as opening transactions around the clock, reviewing emails, checking bank accounts, and coordinating with lenders and homeowners’ associations.
Earlier this week, the US company secured a $100 million credit facility to scale its AI-driven approach to property transactions. The funding comes from Metropolitan Partners Group, a private investment firm that backs growth-stage businesses in the U.S.
Based in New York, Metropolitan Partners Group provides growth capital to entrepreneur-led businesses in the U.S. that do not have outside sponsors. They aim to help these businesses grow while keeping ownership intact and supporting the management team’s vision. Their goal is to create value and protect their investors’ interests.
Bringing AI into real estate closings
Founded by Natalia Karayaneva, Propy is a tech company with licensed title and escrow operations powered by AI and smart contracts.
Propy’s platform automates the entire real estate closing process, from offer to deed recording, allowing transactions to occur 24/7 with fewer intermediaries, less paperwork, and higher security.
In doing so, the company is eliminating inefficiencies caused by outdated legacy systems and removing cost barriers that prevent access to real estate.
Since 2021, the US company claims to have processed more than $5 billion in real estate transactions, with volumes roughly doubling each year. Through continued acquisitions, the company aims to add around $100 million in annual revenue.
“Multi-agent orchestration will allow transactions to become so smooth and cheap that the new generation will be buying homes anytime they change cities. Instead of 4-7 million homes sold every year, we believe we’ll witness 20 million homes changing hands,” adds Karayaneva.
What’s next?
With the new funding, Propy plans to acquire title and escrow firms generating between $5 million and $20 million in annual revenue. The focus is on states such as California, Texas, and Tennessee while keeping local teams in place.
Once acquired, these firms are upgraded with automated workflows that can reduce manual work by up to 70%. Blockchain technology is used in the background to improve auditability and settlement security.
The company says interest in its roll-up strategy is strong. Propy recently completed a second acquisition valued at $5 million, signed a letter of intent for another $6 million deal, and has about $75 million in transactions 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,” says Natalia Karayaneva, Founder and CEO of Propy.
