Coadjute raises £6m led by Praetura Ventures to expand its UK property blockchain network.
The funding round was led by Praetura Ventures with participation from US institutions to support nationwide rollout and team expansion.
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 £6m in a seed follow-on funding round led by Praetura Ventures, with participation from US-based backers Collab+Currency, The LegalTech Fund, and Rocket One Capital. The capital will be deployed to expand operations and sales and marketing activities while rolling out the blockchain network across the UK property sector over the next two years.
This latest investment brings the total capital raised by the London-based firm to £10m. The round follows previous funding events, including a £1m pre-seed round in 2019 and a £3m seed round in 2020. Alongside the financing, Praetura Ventures operational partner Colin Greene has joined the board as a non-executive director.
The company's technology connects legacy software systems used by estate agents and conveyancers to streamline property transactions. Following a live test transaction earlier in the year, Coadjute is preparing for broader deployment as the UK property market continues to experience high post-pandemic demand and prolonged completion times.
From the founder
"Whilst there have been many attempts to improve the property process, at heart the challenge is that the many systems involved are not interoperable."
Dan Salmons
CEO at Coadjute
Investor perspective
"The UK property market has been overdue an innovation like Coadjute for many years. The founders have developed something that will completely revolutionise how we buy houses in the UK and beyond. I am looking forward to supporting the outstanding team at Coadjute as they roll out and grow the network, and to helping them achieve their vision of a truly seamless property market"
Colin Greene
Operational Partner, Praetura Ventures
Use of funds
- 01Invest in sales and marketing
- 02Scale operations
Investors
Categories
About the company
Coadjute
Coadjute connects property market participants through a secure data network.