Goodwin Advises Dwelly on Raising $170 Million Series B
The Technology team advised Dwelly on raising $170 million Series B to build the AI operating system for UK lettings agencies. The financing was led by EQT Growth, with participation from General Catalyst, s16vc, Begin Capital, DVC, and a group of founders and technology executives. The round included $95 million in equity and a $75 million debt facility led by Trinity Capital. Dwelly will use the capital to boost AI-native platform development, acquire more independent agencies, and bring them onto Dwelly’s operating system.
Goodwin also advised Dwelly on its commitment to receive $75 million in growth capital from Trinity Capital Inc., a leading alternative asset manager. This capital facility will help Dwelly scale across the UK market through strategic acquisitions and technology-driven growth.
Dwelly is an acquisitions business specifically for independent lettings agents. Dwelly automates the transactional layer. Every tenant and landlord communication runs through their platform, which keeps a continuously updated context for each customer and property. AI agents handle work end to end, from answering maintenance, contract, tenancy procedure, and routine questions to selecting the right maintenance provider, requesting parts, coordinating appointments, and keeping every party updated. Dwelly has over 15,000 properties, making them a top 10 agency in the UK.
The Goodwin team advising on the financing was led by Andrew Davis, Emily Townsend, and Harriet Worthington. The Goodwin team advising on the capital facility was led by Andrew Davis, Simon Fulbrook, Emily Townsend, Luke Mascarenhas, Harriet Worthington, and Laura Kelly.
For more information on the deal, please read the financing press release and capital facility press release.