A proptech lettings platform backed by Foxtons, among some other high street agents, has been acquired by a landlord legal services group.

Propoly, which launched last year, has been snapped by LegalforLandlords for an undisclosed sum.

The proptech platform, founded by Ray Kyrson and Edward Gazelle, previously went through the Pi-Labs scale up programme and has investment from several high street agents.

The company plans to enhance the existing Propoly offering, making a platform that is already best-in-class and outperforming its competition in pre-tenancy task work even more attractive to lettings industry professionals.

LegalforLandlords founder and MD Sim Sekhon believes that PropTech is crucial in an industry that is increasingly regulated and dogged by administrative complexity.

Sekhon said: “We need to automate processes to save time and money, but we also need to recognise that
agencies need to grow and develop new income streams. Propoly meets these needs now and will
do so even more in the future. Ray Kyrson, Propoly’s co-founder, is excited to be part of our plans for
its future.”