A proptech platform that enables estate agents to spot problems with title deeds much earlier in the property sales process has received an additional £500,000 in seed funding from several angel investors.
Called Veya, its first-of-a-kind platform analyses title deed documents and flags up potential glitches that could hold up sales, giving the parties involved more time to solve them.
This, in turn, both prevents sales from falling through and speeds up the sales progression process.
Key documents can be prepared in advance that will be required by conveyancers to ensure a successful sale of any registered or unregistered property in England and Wales.
Estate agents input a property’s address into Veya, which provides a comprehensive property report outlining any risks and opportunities picked up from the deed.
The proptech platform also provides a set of actions that the estate agent can check off to reduce the time it takes to get the sale over the line.
Its platform is also integrated with technology partner Thirdfort, the AML solution that lets estate agents perform automated identity verification and ‘source of funds’ checks.
John McAuley (pictured), Veya’s CEO, says: “Veya is the must-have tool for any estate agent looking to win more instructions, sell properties faster and be more compliant.
“With this additional investment, we are well-placed to develop several exciting offerings built around the Veya platform, to ensure a smoother transaction process for all those involved in residential property purchases.”
Emily Bancroft (pictured) from Welsh firm LL Estates adds: “Using Veya has reduced the average time it takes us to sell a property from 14 weeks to 9 weeks which is amazing.
“Veya provides key insights that are also helping us win more instructions through its simple to understand report.”
The new cash will be used to expand its technology offering and sales and marketing efforts.
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