Buying a home in the U.S. often comes with a shock that has nothing to do with the sale price. Long after the offer is accepted, buyers are hit with a maze of fees, emails, delays, and paperwork that can push total transaction costs close to 10% of a home’s value. In some cases, closing costs alone can exceed the down payment, wiping out years of savings in a matter of weeks.
Today, Miami proptech Propy announced a $100 million credit facility from Metropolitan Partners Group to scale an aggressive plan: buying up title and escrow firms and running them on an AI-driven platform.
Rather than pitching another consumer-facing app, Propy is going after the plumbing of real estate. Title and escrow is a $25 billion industry, still dominated by small, local firms and manual workflows. Emails are checked by humans, bank accounts are verified during business hours, and progress often depends on who happens to be at their desk. Propy’s argument is that this friction has become normalized, even as the rest of finance has sped up.
The company has already rolled out an AI agent designed to take over some of the day-to-day work of escrow officers. The agent checks emails, opens transactions around the clock, reviews bank accounts, and follows up with lenders and HOAs.
“We’re building the infrastructure layer that allows real estate to operate on par with modern financial markets: AI-enabled and more liquid,” Natalia Karayaneva, Propy’s founder and CEO, shared in the announcement.
“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,” Karayaneva continued. “Instead of 4–7 million homes sold every year, we believe we’ll witness 20 million homes changing hands.”
The financing is structured to support that vision with real assets underneath it. Metropolitan Partners Group backed the facility with licensed, cash-flowing title businesses, a setup meant to limit downside risk while funding operational change.
“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,” Paul Lisiak, Managing Partner and CIO of Metropolitan, commented.
Propy recently completed its second acquisition, a $5 million deal, and entered a letter of intent for a third, valued at $6 million. Its active M&A pipeline stands at roughly $75 million, with a focus on firms generating between $5 million and $20 million in annual revenue across states like California, Texas, and Tennessee. Acquired teams stay in place, while workflows are rebuilt to cut manual work by as much as 70%.
This roll-up strategy also leans on blockchain, though in a more subtle way than earlier crypto-era promises. Propy uses it mainly for audit trails and settlement security, positioning it as a support layer rather than the headline feature. Since 2021, the company said it has processed more than $5 billion in transactions, with volume roughly doubling year over year.
The company’s advisory board includes former regulators and tech veterans, and it counts Tim Draper among its backers. Yet the bigger test will be whether AI can truly standardize a process that has long relied on local nuance and human judgment.
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