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Major Players Invest £10M in Coadjute's Property Revolution

Lloyds Banking Group, Nationwide, NatWest, and Rightmove have just injected £10 million into Coadjute
April 3, 2024

London-based property technology startup Coadjute has just received a significant boost with a £10 million investment from major players in the financial and real estate sectors, including Lloyds Banking Group, Nationwide, NatWest, and Rightmove. This latest funding round brings Coadjute's total investment since its inception in 2018 to £23 million, marking a significant milestone in its journey.

The average time taken for a property transaction to complete—from offer acceptance to finalization—stands at a staggering five and a half months, as revealed by Rightmove's analysis. This prolonged duration is primarily attributed to fragmented processes, disconnected stakeholders, and data silos within the industry. Coadjute aims to tackle these challenges head-on by addressing interoperability issues and facilitating a smoother home buying experience for all parties involved. Earlier this year, the company's leadership team even made a compelling case for greater data openness within property markets during their visit to the British Parliament.

Coadjute's innovative platform brings together estate agents, conveyancers, mortgage lenders, buyers, and sellers onto a unified network, where verified parties can securely share standardized data. By leveraging Corda technology, the software ensures end-to-end encryption for all communications and transactions, safeguarding sensitive information such as deeds, digital identities, and financial transactions.

In an industry where innovation is key, Coadjute is at the forefront of driving change. With embedded finance, project management software, and home improvement technology continuing to attract significant investments, Coadjute's strategic approach to revolutionizing property transactions has garnered the attention and support of industry leaders.

Esther Dijkstra, Managing Director of Intermediaries at Lloyds Banking Group, emphasized the importance of simplifying the home buying process to alleviate stress for buyers, highlighting Lloyds' £3 million investment in Coadjute as a testament to their commitment to this cause.

Similarly, Henry Jordan, Nationwide's Director of Home, echoed the sentiment, emphasizing the need for streamlining the home buying journey into a seamless experience for both consumers and industry participants. Nationwide's investment in Coadjute reflects their confidence in the transformative potential of its technology.

As Coadjute continues to expand its footprint and drive innovation in the property sector, it stands poised to reshape the future of property transactions and set new standards for efficiency and transparency in the industry.

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