The Property Franchise Group (TPFG) has acquired a 25% stake in conversational AI platform Enteka Ai as it looks to expand the use of artificial intelligence across its agency network.
Enteka is already operating across more than 210 TPFG offices, including branches within Belvoir, EweMove, Hunters, Martin & Co, Northwood and Whitegates.
The technology is also being used by Brook Financial Services.
TPFG is investing £900,000 in new shares for a 15% equity interest. A further 10% stake has been issued upfront and is subject to forfeiture conditions linked to a three-year commercial agreement.
Under that agreement, Enteka will become TPFG’s preferred AI provider.
AI handles calls, WhatsApp and enquiries
Enteka has developed its conversational AI technology specifically for estate agents and mortgage brokers.
The platform handles enquiries across telephone, email, SMS, WhatsApp and live chat. It can capture and qualify leads, arrange appointments and identify potential cross-selling opportunities.
Agents can also use the technology to re-engage contacts within existing databases and deal with property maintenance enquiries.
TPFG expects adoption to expand beyond the 210-plus offices already using the platform.
Enteka will remain an independent business and continue supplying estate agencies and mortgage brokers outside the TPFG network.
‘Moving early’
Gareth Samples, chief executive of TPFG, said: “Our investment in Enteka reflects our commitment to delivering long-term value for our franchisees.
“Enteka’s technology is designed around the needs of property professionals, helping them capture more opportunities and spend more time on the activities that grow their businesses.
“Moving early to adopt these capabilities across our network can create a first-mover at scale advantage.”
Christos Votsis, founder and CEO of Enteka Ai, added: “We founded Enteka to help property professionals turn more customer conversations into business opportunities and to take the administration that follows off their desks.
“With TPFG’s backing, we can bring that ambition to a wider network.”
The investment forms part of TPFG’s strategy of investing in or acquiring businesses that complement its existing property franchise operations.
