London-based proptech firm Coadjute has secured a significant £10 million funding boost from three of the UK’s top mortgage lenders. The company, established in 2018, has created a platform that leverages blockchain technology to streamline the property transaction process. This innovative tool is utilized by estate agents to monitor and manage transactions more efficiently.
The latest funding round saw contributions from major players in the mortgage sector: Lloyds Banking Group, Nationwide, and NatWest, alongside proptech platform Rightmove. This infusion of capital is set to propel Coadjute’s growth, expanding its services and reaching a wider audience.
Coadjute’s blockchain-powered platform aims to enhance the home-moving experience by connecting all parties involved—estate agents, conveyancers, and brokers—through a unified network. This integration is expected to make property transactions smoother and more secure.
Lloyds Banking Group took the lead in this funding round, investing £3 million. Esther Dijkstra, managing director of intermediaries at Lloyds, highlighted Coadjute’s role in revolutionizing the house buying process. The technology aims to ensure a more seamless transfer of property, allowing new homeowners to settle in quicker and with greater ease.
Coadjute had previously raised £4 million in a funding round led by Praetura Ventures in March 2023. This latest investment underscores growing confidence in Coadjute’s potential to transform the real estate market by making property transactions faster and more efficient.
Looking ahead, the company is focused on leveraging this new funding to broaden its reach and refine its platform. With the backing of some of the largest names in the UK mortgage market, Coadjute is well-positioned to lead the way in modernizing property transactions and improving the overall home-moving experience.