Propy secures $100 million for AI-powered closing platform

Propy — a tech company using artificial intelligence (AI) and blockchain to automate real estate closings — announced it has secured a $100 million credit facility from Metropolitan Partners Group.

Financing will be used to consolidate title and escrow companies into an AI-powered, end-to-end closing platform.

According to Propy, transaction costs can approach 10% of a home’s value due to fragmented workflows and multiple intermediaries. In many cases, fees and closing costs exceed the down payment, eroding years of savings for homebuyers.

“We’re building the infrastructure layer that allows real estate to operate on par with modern financial markets — AI-enabled and more liquid,” said Natalia Karayaneva, founder and CEO of Propy. “Multi-agent orchestration will allow transactions to become so smooth and cheap that the new generation will be buying homes anytime they change a city.

“Instead of 4–7 million homes sold every year, we believe we’ll witness 20 million homes changing hands.”

The company has launched an AI agent that performs functions traditionally handled by escrow officers, including monitoring emails, opening transactions 24/7, checking bank accounts and communicating with lenders and homeowners’ associations.

“We are pleased to support Propy as it brings much-needed efficiency and transparency to residential real estate transactions,” said Paul Lisiak, managing partner and chief investment officer of Metropolitan. “As a capital provider to growing, asset-backed businesses, we were drawn not only to the underlying durability of title and escrow operations, but also to Propy’s practical approach to improving the closing process with next-generation AI tools.”

Propy has seen strong inbound M&A interest for its roll-up strategy — completing a second $5 million acquisition and entering a letter of intent for a third $6 million deal in recent weeks, with roughly $75 million in its active pipeline.

Propy said it plans to acquire firms generating $5 million to $20 million in annual revenue across California, Texas, Tennessee and other states — retaining local teams while using automation to increase volume and expand margins.

Acquired firms will be upgraded with automated workflows that cut manual workloads by up to 70%, with blockchain used as supporting infrastructure for auditability and settlement security, according to the company.

Since 2021, Propy has processed more than $5 billion in transactions, with volume roughly doubling year-over-year.