The Property Franchise Group (TPFG) has taken a 25% stake in Enteka AI as it seeks to increase the use of artificial intelligence across its mortgage and estate agency operations.
The group is investing £900,000 in new shares for a 15% interest in the conversational AI business, with a further 10% stake being issued upfront and subject to forfeiture conditions linked to a three-year commercial agreement.
Under the agreement, Enteka will become TPFG’s preferred AI provider, although the technology business will remain independent and continue supplying mortgage brokers and estate agents outside the group.
Enteka is already being used by TPFG-owned Brook Financial Services and in more than 210 estate agency offices across the group’s network.
MORTGAGE LEAD CONVERSION
The platform handles enquiries across telephone, email, SMS, WhatsApp and live chat, with functions including lead capture and qualification, appointment booking and the identification of cross-selling opportunities.
It can also be used to re-engage existing customer databases, potentially giving mortgage firms another way to improve lead conversion while reducing some of the administrative work associated with customer enquiries.
Gareth Samples (pictured), chief executive officer of The Property Franchise Group, said: “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.”
EXISTING MORTGAGE DEPLOYMENT
The use of Enteka at Brook Financial Services means TPFG already has a mortgage distribution business in which the technology is operating, alongside its deployment within the group’s estate agency network.
Christos Votsis, founder and chief executive officer of Enteka AI, said: “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, helping franchisees win more instructions, spend more time with customers and improve profitability.”
TPFG said it expects further adoption of the technology across its network as it looks to improve lead generation, operational efficiency and franchisee profitability.
