Overview
- Propy plans to buy about 10 profitable mid-size title companies over the next 12 months, focusing on firms with $5 million to $50 million in revenue in states such as California, Texas and Florida.
- The company unveiled Agent Avery, an AI escrow officer trained on Propy’s transaction data that the firm says can cut manual escrow work by roughly 40% and support fiat and crypto payments.
- Propy says it will upgrade acquired firms to blockchain-based recordkeeping and automated closing workflows to speed transactions and reduce fraud in a fragmented $25 billion market of roughly 7,000 firms.
- The expansion is financed by a mix of conventional lenders and onchain private credit, including loans via DeFi platform Morpho, which participants describe as an early example of using DeFi for M&A.
- Propy reports processing more than $4 billion in digital real estate transactions and says the roll-up could help it reach a $1 billion valuation within 18 months.