Propy acquires Delta South Title, marking entry into Alabama

Earlier this fall, Propy announced it was looking to acquire an average of 10 title companies nationwide, valued at $10 million, with $5 million to $50 million in revenue and “strong local roots.”

With a market share of more than 40% in Mobile County, Alabama, Propy said Delta South Title fits this bill.

“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 markets but are ready to embrace AI to scale further,” Natalia Karayaneva, Propy’s CEO, said in a statement. “By leveraging Propy’s AI and blockchain infrastructure to modernize closings, we are 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 motivated by a desire not to be “left behind when AI took over.”

“When Propy came along, it was clear this was the direction the market was going,” Couch said in a statement. “Propy made me realize that even with stable profits, we were still turning away business because of the amount of time we spent on paperwork. What sold me was that I was giving my employees more time back, allowing them to work smarter instead of 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 look forward to deploying it to drive 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 to help accelerate its path to a $1 billion valuation.

“We have grown very well organically, but it would take about five years to reach a $1 billion valuation if we continue at our current organic growth rate,” Karayaneva said. “By acquiring companies, we plan to reach that $1 billion valuation within 18 months.”