"The title business is very relationship driven and many local title company owners have this fear that the industry will be disrupted in a way that hurts these local relationships, Natalia Karayaneva, the CEO of Propy, said. These companies want to be more efficient and we want the local relationships they have, so these acquisitions are a win for everyone."
"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. Although many firms have set out to revolutionize or modernize the title industry, very few have generated any significant change."
Propy is pursuing a roll-up strategy to acquire profitable title firms with $5 million to $50 million in revenue, focusing on states such as California, Texas and Florida. The plan targets an average of ten acquisitions valued at roughly $10 million each to accelerate growth to a $1 billion valuation within 18 months versus five years through organic growth alone. The strategy emphasizes retaining strong local relationships while improving operational efficiency. Propy also aims to automate transactions through technology, introducing Avery, an AI escrow officer designed to eliminate nearly 70% of escrow officers' manual workflow.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]