Propy, a real estate technology company, tapped the private credit market for the first time, securing $100 million to support the startup’s acquisition strategy.
Metropolitan Partners Group led a credit facility to the company, which uses artificial intelligence to expedite the real estate closing process.
Propy has been pursuing a roll-up of title and escrow businesses. It acquired Alabama-based Delta South Title in November, and is in the process of acquiring its third business based in Florida.
“Traditional equity capital is very expensive and very dilutive,” Natalia Karayaneva, Propy’s founder and chief executive officer, said in an interview. “When ...