[Funding alert] London-based Coadjute Secures £10Million from major banks

According to data from Rightmove, it typically takes five and a half months for a deal to close after a seller accepts an offer. Closed data, laborious procedures, and disjointed parties are mostly to blame for this.

Coadjute aims to solve interoperability problems in the closing process and make it possible for more people to become homeowners. Earlier this year, the company's management team went to the British Parliament to advocate for increased transparency in the real estate industry.

With the use of its application, buyers, sellers, conveyancers, mortgage lenders, and estate agents can all connect to a single network where information can be securely exchanged in a standardised manner and all parties are verified.

Read also - Germany-based moveXM Acquired Feeddex BV and 5-Star Specialist BV

Regardless of the system that each party uses, critical information is communicated swiftly and securely, including digital identities, financial transactions, and deeds. The software ensures end-to-end encryption for transactions and communications by utilising Corda technology.

Among the real estate industry's top money raisers are embedded finance, project management software, and home improvement technology.

Esther Dijkstra, Managing Director of Intermediaries, Lloyds Banking Group said: “As the UK's largest mortgage lender we know buying a home is incredibly rewarding, but it can also be stressful and complicated, particularly if it’s the first time you’ve bought a home. To play our part in making things as easy as possible for home buyers, we’ve invested £3 million in Coadjute, who are transforming the house buying process by developing technology which brings everyone involved together securely, so homes can change hands smoothly and quickly and people can start enjoying their new home as soon as possible.”

Henry Jordan, Nationwide’s Director of Home, said: “Buying a home is one of the most complex and stressful things that people will do in their lifetime. The homebuying process needs streamlining into a single, integrated journey for the benefit of consumers and industry participants alike. We’re investing in Coadjute because we believe its technology has the potential to achieve this and be a game changer for the property industry.”

About Coadjute

Coadjute, a london startup is a property technology business headquartered in London. Through the use of blockchain, their open network links the parties engaged in real estate transactions, reducing costs and speeding up the process. The network is being rolled out across the UK market with help from significant players in the property sector and worldwide venture capital investors.

Read also - Italy-based Sense4Med Secures €510k in Funding