Coadjute raises £10m from Lloyds Banking Group, Nationwide, NatWest, and Rightmove to scale its property network
Lloyds Banking Group led a £10m investment round to fund the national roll-out of Coadjute's property technology platform.
Coadjute operates a data network for the property market that connects buyers, sellers, and property professionals. The platform allows verified parties to share information securely in a standardised manner.
Coadjute has secured £10m in a strategic funding round led by Lloyds Banking Group. The investment also includes backing from Nationwide, NatWest, and Rightmove, marking the first time the UK major mortgage providers have jointly funded a property technology firm. Lloyds contributed £3m of the total sum.
The proceeds will finance the firm's national expansion and broaden the scope of its network to encompass mortgage brokers and lenders. This development follows Coadjute's recent collaboration with public institutions on digital property settlement initiatives.
The business provides a unified network linking estate agents, conveyancers, and lenders to streamline property transactions. Current industry data indicates that buying a home involves lengthy completion times, a challenge the company addresses through secure data exchange.
From the founder
"We’re delighted that the Coadjute network is now being backed by the biggest players in the UK property market, enabling us to further expand our offering and roll out to more home movers and the professionals that serve them. Together with the estate agents, conveyancers and brokers joining the network, we hope to transform the experience of moving home in the UK, making it quicker, easier and safer for everyone in the future"
Dan Salmons
CEO at Coadjute
Investor perspective
"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."
Esther Dijkstra
Managing Director of Intermediaries, Lloyds Banking Group
Use of funds
- 01Expand into international markets
- 02Build out infrastructure
Investors
Esther Dijkstra
Lloyds Banking Group
Henry Jordan
Nationwide
Miguel Sard
NatWest
Johan Svanstrom
Rightmove
Categories
About the company
Coadjute
Coadjute connects property market participants through a secure data network.