UK prop-tech blockchain start-up Coadjute raises £4 million in investment funding as it prepares to expand its network across the property market.
The round was led by Manchester-based Praetura Ventures, with other investors including Reech Corporations Group.
“Unlike other PropTech companies, the key to Coadjute’s success is collaboration with incumbent players and using their platform to connect all the stakeholders involved in the sale of a property. Their proposition is unique to the industry. We want to help them continue to expand and move closer towards their vision of a connected property industry,” says David Foreman, Managing Partner at Praetura Ventures.
Coadjute has raised a total of to £14 million to date, this includes a £1 million Pre-Seed round in 2019, a £3 million Seed round in 2020 and a £6 million round in 2021. It has been busy gathering new property businesses to its platform including sales and lettings estate agency group Spicerhaart, Talbots Law and mortgage lender Kensington has also expressed interest.
“Industry leaders are increasingly talking about a truly digitised the property market, but can't imagine how that gets delivered. Coadjute have been investing in the technology that enables that future, everything from up front information to smart contracts, digital identity to synchronised settlement. Customers are routinely astonished how far ahead we are - we can do what many think is still science fiction,” says Dan Salmons, CEO of Coadjute.
"The latest funding round shows the confidence of our investors, and we look forward to sharing some exciting developments in the coming year,” he adds.
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