As sales progression delays make the headlines, a tech start-up that will halve the time it takes to buy a home has landed a ‘multi-million’ pound investment to fund its launch.
Coadjute, which recently bagged former NatWest innovation chief Dan Salmons as its CEO and featured in The Times, is the first in the UK and possibly the world to set up an end-to-end sales progression system that plugs all the players – including estate agents – into the home moving process.
The cash raise comes from a consortium led by Swiss VC firm Blockchain Valley Ventures along with tech investment specialist Odysseus, global property fund Ahimsa-Esya Capital and David E. Rutter, on whose blockchain platform Coadjute sits.
“We’ve spent 18 months developing our unique blockchain network in industry pilots and are now preparing for launch,” says Salmons (pictured).
“The new investors announced today will marry up global reach and deep knowledge of both property markets and blockchain technology.
“Coadjute is now in a very strong position to offer the UK the first secure, open network set to revolutionise property sale transactions forever.”
Paolo Guida of Blockchain Valley Venture adds: “Enterprise blockchain is finally going mainstream and we believe will find wide adoption over the next 3-5 years.”
And Adam Battersby, CEO of Odysseus, says: “The Coadjute team has a track record of success and we are excited at the potential to partner on improving the efficiency of property purchases and mortgage decisioning.”