A fast-growing lettings firm called Dwelly has made its first international acquisition, saying property investment is now “borderless”.

It has acquired Settio, a property management and investment business with clients across 17 countries.

This adds over 2,000 fully managed properties to the Dwelly network and brings with it offices in Manchester, Birmingham, London, and Singapore.

Dwelly now has an estimated 14,000 properties nationwide in the UK.

Founded in 2017, Settio manages over £600m of property assets.

Sam Humphreys, head of mergers and acquisition at Dwelly, comments: “This is a hugely important acquisition for Dwelly because it represents something entirely new for the business.

“… Our approach isn’t about absorbing great businesses into a corporate structure, it’s about preserving what makes them successful and helping them grow even further.

“Most importantly, this acquisition significantly strengthens our international presence and gives us an established platform from which to support a growing global client base. 

“As property investment becomes increasingly borderless, the businesses best placed to succeed will be those that can combine local expertise with international reach, and this acquisition represents a major step forward in that regard.”