Earlier this fall, Propy announced that it was looking to acquire an average of 10 title firms across the country valued at $10 million with $5 million to $50 million in revenue and “strong local roots.”
With over 40% market share in Mobile County, Alabama, Propy said that Delta South Title fits this mold.
“As consolidation accelerates and technology reshapes every part of the real estate transaction, we want to empower independent title firms that are already performing at the top of their market but ready to embrace AI to scale further,” Natalia Karayaneva, the CEO of Propy, said in a statement. “By bringing Propy’s AI and blockchain infrastructure to modernize closings, we’re giving this team the tools to double their deal capacity and triple profitability.”
According to Delta South Title owner Kyle Couch his interest in Propy was prompted by a desire to not get “left behind when AI started taking over.”
“When Propy came along, it just clicked that this is where the market is headed,” Couch said in a statement. “Propy made me realize that even with steady profits, we were still turning down business because of how much time we spent on paperwork. What sold me was giving my employees more time back, helping them work smarter, not harder. We’re excited to see how we can grow together.”
According to the release, Crouch and his team are excited to embrace Propy’s technology and are looking forward to leveraging it to fuel future growth.
Propy said it plans to use this acquisition as a model for future roll-ups.
In October, Karayaneva told HousingWire that Propy was embracing this strategy in order to help accelerate its path to a $1 billion valuation.
“We’ve been growing organically really well, but it would take about five years to get to a $1 billion valuation if we continue at our current organic growth rate,” Karayaneva said. “By acquiring companies, we plan to get to that $1 billion valuation within the 18 months.”