Home moving network Coadjute has raised £6 million to further fund the roll-out of its ground-breaking tech across the property industry over the next two years.

Coadjute enables the existing software used by estate agents, conveyancers, mortgage brokers and lenders to work together, enabling the parties involved in a property transaction to synchronise and share progress updates, property information, digital identities and even payments.

This will create myriad benefits but, for estate agents and home movers, most importantly cut transaction times by up to 50%.

The property to be sold via the Coadjute network took place earlier this year; a four-bedroom bungalow in Kent which completed in just nine weeks.

Since then, Coadjute has announced a string of major software players joining the network and today nearly 70% of estate agents are using a platform that will be connected to its network.

Home moving

The platform’s promise has attracted significant funding including a £1m pre-seed round in 2019, a further £3 million last year and now £6m led by Manchester-based venture capital firm Praetura Ventures.

Other funds which have invested include several US-based law-tech and blockchain specialist funds as well as Rocket One Capital, which in the past backed Airbnb.

As part of the round, Praetura Venture’s Operational Partner Colin Greene who is a former senior figure at Apple, will be joining as a non-executive director on Coadjute’s board.

He says: “The UK property market has been overdue an innovation like Coadjute for many years.  The founders have developed something that will revolutionise how we buy houses in the UK and beyond.”

Dan Salmons (pictured), CEO of Coadjute, said: “Adding yet more platforms, more hubs, more databases just doesn’t solve that. Coadjute has shown we can now connect multiple existing systems to each other, securely, in real-time, and since our first transaction in July the demand has been phenomenal.

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