Dwelly, a UK-based AI-enabled letting and property management marketplace, has snapped up Gallant Richardson for an undisclosed sum and expandings its portfolio by 450 new units under management.
Gallant Richardson, founded in Colchester back in 1993, has grown into a leading local specialist in the sales, property management, and lettings market.
Dwelly says the acquisition aligns with its mission to technologically empower independently-run letting agencies while preserving their brand and legacy.
It will now integrate AI solutions, streamlining key processes such as tenant applications, ID checks, lease signing, and ongoing maintenance.
REVOLUTIONISING REAL ESTATE
Ilya Drozdov, Chief Executive and Co-founder of Dwelly, says: “This acquisition is another step towards revolutionising the real estate sector, helping traditional agencies to overcome their inefficiencies through intelligent automation.
“Following our previous buy-out of Lime, where we already reduced time to rent by 80%, we aim to empower other agencies with similar tools that allow them to focus on growth while we handle the complexities of operations with seamless and systemic AI integration”.
Historically slow to modernize, the property sector in the UK is seeing rapid change. This has led Dwelly to accelerate its growth through strategic partnerships and a targeted buy-out strategy, an approach that enables them to scale quickly, modernize agencies more efficiently, reduce operational costs and mitigate losses from human error, ultimately increasing margins.
BUSINESS CONTINUITY
Andy Wade, former Director of Gallant Richardson, says: “Earlier this year I started thinking about my eventual retirement. I wanted to find a way to allow me to do this whilst also allowing the business to continue.
“Dwelly invests in existing independent agencies with those businesses continuing under their current names and operating from their current premises with their current teams.
“I’m happy that all Gallant Richardson clients will continue to receive the service they are used to with further investment into the business.”
TRACK RECORD
Earlier in September, Dwelly completed the buy-out of Yorkshire-based estate and lettings agency Lime Property, adding 1,000 properties to its portfolio.
Dwelly was founded by Ilya Drozdov, Dan Lifshits, and Dmitry Khanukov, seasoned entrepreneurs with over 15 years of experience working together and a track record of successful exits in the tech-enabled lettings industry.
Previously holding leadership positions at tech giants and consulting firms such as Uber, McKinsey, and Gett, they were inspired by their personal experiences navigating the cumbersome rental process in London.
